MANAGING GUEST EDITOR PARTNER, FIRESIDE Kanwaljit Singh VENTURES RNI No. HARENG/2011/39608-L-2/FBD/286/18-20 SMALL MEDIUM

www.entrepreneur.com May 2021 l `200 l INDIA EDITION The Makers Co Meet the Doyens of D2C

Bala Sarda, Vineeta Singh, Varun Alagh, Aman Gupta, Founder, Co-founder & CEO, Co-founder, Co-founder, Vahdam India SUGAR Cosmetics Mamaearth boAt

Editor’s Note

THE MAKERS OF NEW CPG

t was just two years back Our current issue of The when I was casually Makers Co is dedicated to a talking to an Institutional new generation of disruptive IFund investor at the IReC entrepreneurs who are event about the Future of D2C blending CPG and technology e-commerce. He answered that and are shaking up retail as investors if a D2C Brand with direct-to-consumer reaches Rs.100 crores, we e-commerce companies that Our current issue also shares equate them similar to a tech build, market, sell, and ship how Kunal Bahl is turning the unicorn. This was also the their products themselves. wheels of growth for consumer- time when no D2C Brand had In the process, these brands, facing startups through his crossed the 100 crore mark spanning everything from food fund Titan capital. There is also and today with one normal to footwear, are drastically focus on why ESOP buyouts are year and one pandemic year resetting consumer preferences becoming the talk of the town. - India has a new League of and expectations. The 20+ In Our next issue, we look direct-to-consumer (D2C) companies featured in the into how Co-working spaces eCommerce entrepreneurs who Makers Co list were born will become hot once again as are challenging the traditional mostly in the last 5 years and pandemic has unleashed the online marketplaces. India have been the beneficiaries trend of WFH, and corporates already boasts of as many of platforms Like Amazon, and mid-sized organizations as 600 D2C brands and Facebook, Google, Instagram, are today happy to carry on more than 16 brands with an and Flipkart. With a dominant with the hybrid trend in the annual turnover of more than presence in Google’s search post-pandemic era. Stay with $60 million and a couple of results, turning Instagram us to learn about new trends them almost achieving the followers into micro- in co-working and also the top celebrated Unicorn badge. The influencers, and using highly co-working spaces that are Avendus report further says targeted Facebook ads to grow capitalizing on the new working the country’s D2C business is their audiences, they’ve shown trends. going to be worth $100 billion extraordinary resilience amid in five years. So powerful is the the Covid-19 pandemic and model of D2C that during 2020 have grown several times over. almost all big FMCG companies It will be interesting to see globally have switched over in how D2C founders will take Ritu Marya one form or the other towards their business presence global Editor in chief D2C to capture the consumer particularly once the pandemic E-mail me at: directly. eases. [email protected]

MAY 2021 l ENTREPRENEUR l 3 Guest Editor Note

BUILDING THE VALUE OF GOOD

fter spending three decades in and around this their workers, customers, suppliers, community, and the space, I can safely say that there’s no better environment. Or Patagonia, which has been using Black time to build a consumer brand in India. Just Friday as a rallying point to reduce mindless consumption, Alook around and you will see a new breed of and raises funds for grassroots non-profits working to brands – built for, by, and of a completely new generation protect the environment. of entrepreneurs. These entrepreneurs are creating Closer home, Shumee has been making innovative for consumers just like themselves – They are always learning toys from natural wood – miles away from “on.’’ They have extremely high expectations. They are toxic paint, plastic, or batteries. Brands ranging from responsible citizens of the world. They are very responsive. Mamaearth to NoNasties have been planting a tree for And much more. every order they ship. Vahdam Teas has been working The pandemic has accelerated several trends like digital to educate the children of workers on tea estates. Raw consumption, health and wellness, remote working, and at- Pressery has been recycling – RAWcycling – their plastic home experiences. The result is a degree of consumer focus bottles to create T-shirts. The Plated Project has been and community-building that feeding 50 children for every art-printed plate it sells. Just we have never seen before from the other day, I read about Air-Ink, which converts carbon popular brands. About half soot from auto and factory emissions, and converts it into The all-pervasiveness of of our own high-quality printing ink. digital has been critical for the portfolio The UN says that by 2050, we will need the equivalent creation of these brands, but in companies of almost three planets to provide the natural resources the Indian context, D2C is often have women needed to sustain current lifestyles. Today’s brands are a misnomer. Most of these new founders or keenly respectful of our natural resources. and emerging consumer brands co-founders, There are many other ways in which this new generation are digital-first, but employ an and a much of brands do things differently, and diversity is a case in omnichannel approach – they larger number point. About half of our own portfolio companies have meet their consumers where have women women founders or co-founders, and a much larger number they are. as part of their have women as part of their core teams. At Fireside, we often talk core teams. The more you see of new consumer brands and their about the Value of Good, creators, the more you realize that we are right in the because today’s brands are purpose-driven at the core. middle of a very exciting landscape where meaningful Responsible Consumption and Production is one of the brands will thrive and flourish. You could call it a win-win- United Nations Sustainable Development Goals – it also win – for consumers and investors, of course, but also for describes to a T what today’s entrepreneurs are aiming to society at large. achieve, either through ethical sourcing, or clean label, or minimal packaging, or the use of new materials. Look at Allbirds – it’s a registered B Corp, legally Kanwaljit Singh - Managing Partner, required to consider the impact of their products on Fireside Ventures

4 l ENTREPRENEUR l MAY 2021 MAY 2021 l ENTREPRENEUR l 5 The p.20 Makers O The Builders C of India’s New CPG COVER STORY COVER

6 l ENTREPRENEUR l MAY 2021 CONTENTS MAY 2021

EXPERT S P E A KS

12 13 14 15 Digitization is The Digitalising Six Leadership Role of security Solution for India’s the Lending Lessons Startups can protections for small MSMEs to Survive in a Landscape learn from the jungle businesses in today’s Post-Pandemic World. BY PRAMOD BHASIN, BY SREEDHAR BEVARA, world Here’s Why CHAIRMAN, CLIX AUTHOR, THE ROARING BY NIKHIL ARORA, CAPITAL LAMBS BY PUSHKAR MUKEWAR, MANAGING DIRECTOR AND CO-FOUNDER AND CO-CEO, VICE PRESIDENT, GODADDY DRIP CAPITAL INDIA

TRENDS & GROWTH TECH LIFESTYLE UPDATES

1O HAPPENINGS 48 STRATEGY 62 GEEK TALK 74 Charlotte Tilbury on COVID-19 unearths new cyber Why the best defense ShareChat Is Changing The Midas Touch threats for businesses is a good offense. How Next Billion Users Will Interact On Internet 76 Top 5 Apps on my phone 50 JOURNEY STARTUP Taking a Break at 40, This 77 Top 3 Apps to help Entrepreneur Went On To FEATURES Boost your Business Produce First Unicorn in Spa 16 OPPORTUNITY & Salon Space 78 Entrepreneurs who THE FUTURE OF HR 64 Join the Clubhouse kept themselves fit while TECH 52 DIALOGUE 70 The Creative working from home D2C a realistic alternative to Process starts with 44 Where is Indian traditional business process 80 5 homegrown startups Startup Sector Heading? helping Indian farmers with 54 RESOURCES advance technology-based Why Are Indian intelligent farming solutions Startups on an ESOP

p.16 Buyback Spree 81 BOOKS Akash Gehani, Co-founder 58 IN CONVERSATION and COO, Instamojo on B2B and B2C Not Moving from Books to Comparable; Execution Kindle Matters says Kunal Bahl p.62 82 WHAT INSPIRES ME The Shoes I Stood Back Up In

MAY 2021 l ENTREPRENEUR l 7 WHAT’S ON ENTREPRENEUR.COM?

EDITOR IN CHIEF Ritu Marya

EDITORIAL DIGITAL ADVERTISING CORPORATE OFFICE 405 B, The Pinnacle, Hotel Vivanta by Taj, DEPUTY EDITOR BUSINESS HEAD Shooting Range Road, Faridabad - 121 001 Punita Sabharwal Kapoor (DELHI-MUMBAI) MUMBAI OFFICE Amit Gautam #7290037184 ART Unit 11A & 11B, Ground floor, Technopolis Knowledge [email protected] Park, Mahakali Caves Road, Near Nelco Bus Stand, SR. ART DIRECTOR Andheri (E), Mumbai – 400093 Manish Raghav DELHI OFFICE FRANCHISE & 4th – 5th Floor, Charmwood Plaza, Eros Garden, ENTREPRENEUR.COM BUSINESS Charmwood Village, Surajkund Road, Faridabad - 121009 OPPORTUNITY EDITOR, SPL. PROJECTS BENGALURU OFFICE ADVERTISING Saurabh Kumar #2, Second Floor, Church Street, CHIEF EXECUTIVE (Opposite to Starbucks), Bengaluru-560 001 FEATURES EDITOR OFFICER Puneet Kapani HYDERABAD OFFICE Ashita Marya #9810092379 CORRESPONDENT H.No. 8-2-293/82/A/68, Plot No. 68, Road No.1, Jubilee Hills, Hyderabad - 500 033 Debarghya Sil [email protected] CHENNAI OFFICE SUBSCRIPTION/ Unit 704, 7th floor, Capital Towers, 180, CHAIRMAN Gaurav Marya CIRCULATION Kodambakkam High Road (Opp Hotel Palmgrove),

ENQUIRIES Nungambakkam, Chennai - 600 034 PUBLISHER Sachin Marya #9311148342 KOLKATA OFFICE

[email protected] Merlin Infinite, Unit No. 502, 5th Floor India, DN-51, Sector V, Kolkata- 700091

ENTREPRENEUR MEDIA INC. CHAIRMAN Peter J. Shea, PRESIDENT/CEO Ryan Shea EDITOR IN CHIEF Jason Feifer

Published by Franchise India under license from Entrepreneur Media, Inc., 18061 Fitch Avenue, Irvine, California 92614 USA. ENTREPRENEUR® is a registered trademark of Entrepreneur Media, Inc. This publication is sold and distributed with the understanding that Publisher is not warranting the accuracy of the contents herein nor is it promoting or endorsing any third-party businesses or products/services referenced herein. While Publisher considers the sources of the information contained herein to be reliable and verifies as much of that information as reasonably possible, reporting inaccuracies can occur and readers using that information do so at their FRANCHISE INDIA own risk. Each business opportunity and product/service herein offered contains certain inherent risks. It is R therefore advised that anyone considering investing in or purchasing any such opportunities or products/services first consult with and seek the advice of appropriate experts, including financial advisors and attorneys. This publication and its contents are protected by international copyright registered to Publisher and Entrepreneur Media, Inc. Consequently, no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form and by any means without the prior written permission of Publisher.

Entrepreneur Connect: This section features sponsored content/advertorials.

8 l ENTREPRENEUR l MAY 2021 Digital MAY 2021

WHAT’S ON ENTREPRENEUR.COM?

www.entrepreneur.com l MAY 2021 l DIGITAL COVER SMALL MEDIUM

MI-SSIO N POSSIBLE SCAN AND WATCH THE ENTREPRENEUR & INNOVATOR TALK ABOUT BUILDING A From an Entrepreneur to the CONSUMER Managing Director of one of Asia'a BRAND fastest-growing Tech Ventures, know how the incredible

MANU JAIN did it all

TOP INTERVIEWS

Apna Time Ayega! Taking a Break What Made Know How This At 40, This Groww the Entrepreneur Entrepreneur Went Second Youngest Is Building Job On To Produce First Fintech Unicorn Network For Blue- Unicorn In Spa & Collar Labor Salon Space

MAY 2021 l ENTREPRENEUR l 9 Trends & Updates HAPPENINGS

COVID-19 AS THE ADOPTION unearths new OF TECHNOLOGY GROWS, SO DOES cyber threats for THE RISK. Seventy percent businesses of public sector respondents to our he COVID-19 pandemic forced businesses survey said that a Tto quickly support remote working security compromise practices, often without proper security 70% could put measures in place. The Verizon Business people’s lives at Mobile Security Index (MSI) 2021 reveals that risk by impacting many businesses may have left themselves critical or emergency vulnerable and open to cyber criminals in the services. rush to ensure their workforce could operate remotely. Forty-nine percent of businesses surveyed in the latest edition of Verizon’s MSI stressed that changes made to remote 25% working practices during lockdown adversely Twenty-five percent affected their company’s cybersecurity. of public sector organizations admitted to having a security compromise involving a mobile device in the MOBILE DEVICES past year. ARE CRITICAL TO PUBLIC SAFETY OPERATIONS AND INNOVATION. 72%

Seventy-two percent of One-third of public sector public sector respondents 1/3 organizations reported said that mobile devices having 1,000 or more are very critical to IoT devices. ecient operations. Source: Verizon Mobile Security Index Verizon Source:

10 l ENTREPRENEUR l MAY 2021 PUBLIC SAFETY AGENCIES MUST BE PREPARED FOR:

Rising “hacktivist” attacks based on social A growing and increasingly issues or political agendas mobile workforce

The growing value of Being targeted due to perceived personally identifiable weaknesses in agencies’ security and information (PII) defense measures

WHEN IT COMES TO MOBILE SECURITY, THERE’S MUCH ROOM FOR IMPROVEMENT.

82%

Eighty-two percent of public sector respondents said they think that organizations like theirs need to take mobile device security more seriously.

Thirty-five percent of public sector organizations admitted they had sacrificed 35% mobile security to “get the job done.”

MAY 2021 l ENTREPRENEUR l 11 EXPERT SPEAKS

Digitization is The Solution for India’s MSMEs to Survive in a Post-Pandemic World

BY PUSHKAR MUKEWAR, CO-FOUNDER AND CO-CEO, DRIP CAPITAL

he coronavirus have been herculean challenges pandemic exposed for the traditionally operating the need to address MSMEs. Besides engaging Tthe gaps in Indian manpower, these issues small and medium enterprises deplete the invaluable time (SMEs) for the industry to and effort of the workforce. thrive. As the country is With digitization, steps such rebuilding its businesses’ as adapting solutions provided backbone in the post-pandemic by app-based technologically world, these gaps need to driven companies for everyday be catered to with the help invoicing and payments, of simple yet complex ways MSMEs would be able to of modern functioning. One manage their goals better. such method is through the Any kind of incomplete or digitization of MSMEs. conflicting billing also poses Let’s understand how a big challenge for MSMEs digitization is the solution that who have now adapted to MSMEs need today. following the goods and services taxation (GST) regime. STREAMLINING BUSINESS Small enterprises typically PROCESSES have to file GST quarterly, an MSMEs in India today are activity that requires to be finding value in tying up leak-proof to ensure the labor with technology-driven force which refers to a small startups to streamline their group of people at MSMEs- is business processes. This well-utilized. When MSMEs has happened due to two commit to adopting technology reasons. One because MSMEs for their everyday payments now understand that their cycles, the chances of weeding prospective clients have been own time to pick momentum eliminating difficulties at out incoherent records leading forced to adopt technology post-covid. Technology is multiple checkpoints of a to tax penalties would reduce which wasn’t the case pre- unveiling an opportunity for business cycle. An MSME seller greatly. covid and they are actively MSMEs to do a similar process can tie-up with a tech company looking for ways to transact as earlier in much lower cost to reach out to customers IMPROVING INTERNAL digitally. Any MSME who can and significantly lesser time, globally and follow this process: EFFICIENCY FOR LONG-TERM help customers get access to both of which are precious for a discovering clients digitally GROWTH PROSPECTS their needs digitally is ahead small enterprise. winning orders meeting Overall, the internal working in its effort to rebuild the working capital requirements of an MSME—process business and they are likely to HELPING SELLERS REACH OUT preparing shipment management, workforce succeed. TO THE RIGHT BUYER creating digital invoices administration, and methodical The second reason is that The post-covid world is one securing seamless payments in output—would become efficient the post-pandemic opportunity with limitless possibilities for a transparent manner, this was once digital tools are embedded to streamline processes appears those enterprises that are ready a structure that existed pre- in day-to-day work. An MSME to be a one-time golden to go the extra mile to reach out covid but wasn’t inescapable. also stands to benefit from chance to restructure and to lucrative buyers. digital analytical methods such reconstruct businesses based Digitizing the customer PROVIDING AN OPPORTUNITY as artificial intelligence, and on evolving market trends. acquisition process increases TO CLEAN RECORDS AND machine learning techniques For most MSMEs, there is no the scope of selling a product IMPROVE TAXATION that digital-savvy companies capital to waste as there is or a service in a global Duplication of receipts, can provide to improvise the either a perpetual shortage world without infusing large inconsistencies in billing, and end-to-end business cycle. or the business is taking its infrastructure capital, thus erratic tracking of payments

12 l ENTREPRENEUR l MAY 2021 EXPERT SPEAKS

Digitalising the Lending Landscape

BY PRAMOD BHASIN, CHAIRMAN, CLIX CAPITAL

ndia remains one of the Secondly, find new ways most underdeveloped to underwrite customers. It financial services means collecting data and Imarkets in the building digital streams of developing world. In the last information. This allows decade, the level of financial you to advance loans to so services’ penetration has many customers who are made astonishing strides rejected mainly because with a massive increase in of inadequate data – not new bank accounts, credit because they represent a ratings and the reach of major credit risk. That is a payment systems such as critical differentiation. As Paytm and Google Pay. These demonstrated by the MFI are essential foundations industry, most of the populace built on the India Stack – an will repay their loans. But ambitious vision to enable today’s rules for underwriting transactions across the don’t allow that and the pain country. of these losses can destroy a company. THE MISSING ELEMENTS The entire domain is By the very nature of risk seeking innovation, creativity management, the industry and better design. It needs tends to serve those already a new model particularly relatively well off, better because of India’s digital organised and formalised. In explosion that now provides India, this signifies ignoring cheap access to this market. more than 50% of the This is the Everest for lenders population. But that’s where – the ability to underwrite the Holy Grail of financial digitally and safely for a services lies. We tend to call them customers. Rather, new market segment that is ignore those who need us they call them ‘files’. The DIGITALISATION AND THE growing extremely fast. While the most because they don’t term aptly describes how HUMAN ANGLE many people claim to have have formal jobs, salary this industry thinks of its Payment systems have already taken big strides in this area, slips, sufficient collateral and customers. That’s the first implemented such changes. no one has actually unlocked assets. Consequently, it leaves thing to change dramatically. Now it’s up to lenders to this magic. this cohort – many of whom Using machine learning, digitalise their world so Thirdly, treat customers need help to climb that first one can quickly ensure mass 90% of customers are served really well. It’s the only way rung of the ladder– relatively customisation of products digitally with absolute speed to earn their loyalty, convert helpless. and services... While learning and efficiency. The industry branches into great places Nevertheless, therein lies and adapting in serving aims to offer on-demand to visit (why can’t a branch the tremendous opportunity every customer with specific lending – borrow when you feel like an Apple store?), to digitalise the last mile needs. These needs don’t want, how much you want, serve them with speed and and completely open up this come in nicely packaged repay when you want. Just efficiency and don’t make immense market. There are monthly instalments. They like one would with any them wait in long queues three elements to do this arise mid-month, mid-season other product in the world. or for days together to hear effectively. and mid-week. But for many Therefore, digital channels that their loan application Firstly, understand your individuals and MSMEs, it must be deployed in offering stands rejected. Also, don’t customer to know their core could take weeks to simply people personalised services intimidate them. Make them needs and underwrite better. apply for and receive a loan. backed by empathy and feel wonderful while treating In most financial services That’s a system ripe for understanding that can win them with respect. businesses, they don’t even change in this digital world. over customers for life.

MAY 2021 l ENTREPRENEUR l 13 EXPERT SPEAKS

Six Leadership Lessons Startups can learn from the jungle

BY SREEDHAR BEVARA, AUTHOR, THE ROARING LAMBS

elcome to along with symbolic loads the jungle. of memory. Elephants Here, the ability to sense things is Wsurvival of the not only limited to its ears fittest is the ultimate but also trunk and feet truth. The weaker or lesser makes it a special animal alert animal gets eaten to emulate. Elephants with in what is considered a their extraordinary sensory natural food chain. This faculties can walk towards is the real essence of the the rain, something they corporate world and in relish a lot. Startups need to specific, the startup life. be able to keep their sensory While mortality rate for a organs intact to make it full startup is phenomenally when it comes to decision high, survival remains a making. humongous challenge even after surviving the nascent Eagles are known years. Survival of the fittest 5 to be special birds comes to full life here and not just for their sharp let us take how we can vision but mostly for their address to stay afloat in the razor sharp focus on the business perhaps by taking a targets. No matter how few lessons from our friends higher they soar but their in jungle. sharp focus keeps them clear of any distractions. Snakes don’t have ears Startups biggest challenge but they are very highly is to get distracted in 1 kill’s success rate, wild In reality, mongoose is not perceptive because they several happenings in the dogs almost never have the fastest or strongest put their sensory organs surroundings. Focus is to sleep hungry. They can when pitted against the to good use. Startups must one thing that startups fight against a size that’s snake. It’s because of its use the same approach with cannot afford to lose out far larger to them and their strategy to use its body and their limited resources. Also on and Eagle teaches that ability to coordinate among character against snake snakes take a lot of effort effortlessly. the groups is phenomenal. that’s noteworthy. Mongoose to make venom and they There’s a lot for startups to always attacks the snake don’t simply use all of that Lion is the beast of the seek from wild dogs when from the behind and makes in each bite. They use it so animals and king of it comes to wage the fight lateral movements. Snake 6 very sparingly and their bite the jungle for a reason. Its like underdogs. Startups can be lethal when it comes means business. Corporates attitude makes him the king can keep the tasks smaller to attacking from upfront. should understand when to of the jungle. It’s fierce when and simpler to take the Learning for startups is apply the real bite that can it comes to determination down one by one, instead not always having to fight catch the prey. This speaks and once decided it will not of always planning for that upfront but wage wars that about decision making on step back from the attack. elusive big thing. are sensible and suited to when to go for the kill. It has a belief system that their strengths. it’s born to rule and every Mongoose is generally King of the jungle may startup must have such an adept at fighting Elephants are not only be the beast and the 3 attitude that they are here 2 venomous snakes, of course bigger in size but are boastful lion. But when it 4 to survive and rule. it is built to fight mostly. also known to be intelligent comes to coordination and

14 l ENTREPRENEUR l MAY 2021 EXPERT SPEAKS

Importance of security protections for small businesses in today’s world

BY NIKHIL ARORA, MANAGING DIRECTOR AND VICE PRESIDENT, GODADDY INDIA

he sudden outbreak plan in place, so that in case of Covid-19 and of need, your employees subsequent are prepared to respond Tlockdowns have led appropriately. In addition to several new adjustments to this, regularly backing up for business continuity. all the data, should also be There was an urgent need practiced. Make frequent to adopt technological backup copies of crucial solutions to tackle the business and customer data challenges and continue to and information. thrive and survive. This has For many small businesses, led to a massive digital shift, cyber security might not be a where many businesses, part of their daily operations, including small and medium because it was never a businesses, were coming priority for many prior to online and building their remote working culture. With presence in the digital world. more businesses adapting While shifting to digital to their employees working has its own benefits, it also from home, it is important for comes with additional areas individual employees to take to address. While the growth responsibility of their own of the amount of data that is data by following some basic traveling across the internet steps of cyber hygiene. has become the lifeblood Businesses should consider for many small businesses educating their employees now, its loss or compromise and create awareness about can impact their growth potential security breaches massively. and common cyber threats like malware, phishing MEASURES CAN HELP WHY CYBER HYGIENE IS further protecting their attack and ransomware. CRUCIAL As more small businesses online presence with website Some common steps like With cyber attacks becoming go online, they can take security services that provide suggesting your staff to more common, businesses steps to help protect their continuous monitoring and use different passwords of all sizes need to work website and their site can identify virus attacks for different websites, use to help protect themselves visitors. Having an SSL as they may be happening, strong passwords and set-up against potential impacts. Certificate is an important and get started fixing them two factor authentication, Even a small business first step because it helps quickly. never share passwords with website holds data that to encrypt the transmission The best offence is a someone else, install updated is considered as critical of business and customer good self-defense. To fully anti-virus software, accept and sensitive information, data from the website to the protect your business from system updates on computer such as important personal servers. However, a website cyber attackers, one must systems, and train employees information like a login with an SSL Certificate is define safety protocols for on how to deal with sensitive name and password being still susceptible to hackers every aspect of the business. data, can all be a good start. used across online accounts. and malware. A firewall is As the amount of sensitive You can also consider using In fact, small business an important tool to help data being stored digitally a password manager tool to owners may think that their prevent malware and DDoS increases, your company’s IT help protect your passwords websites are not likely to be attacks. Malware scanning policy should cover not just and ensure to change it after a attacked, but the reality is and remediation can help to standard practices related given time period, while still that automated attacks do not get a website back up and to data security, but also making them accessible for discriminate. running if there is a problem. address newer concerns and your use. Businesses can consider have an incident response SOME BASIC SECURITY

MAY 2021 l ENTREPRENEUR l 15 Startup OPPORTUNITY THE FUTURE OF HR TECH As human resources management sits on the cusp of a tech overhaul, a slew of startups are cashing in on the opportunity

By Shipra Singh

16 l ENTREPRENEUR l MAY 2021 MAY 2021 l ENTREPRENEUR l 17 Startup OPPORTUNITY uman Resources (HR) professionals have to wear many hats. From recruitment, to handling employee performance, relations, training and benefits, to planningH and maintaining administrative functions, HR management is not just limited to hiring anymore. With the role of HR becoming critical in supporting business, companies are increasingly looking to integrate technology into their HR operations to streamline their tasks. Seeing an opportunity, a slew of HR technology startups are building products using artificial intelligence (AI), machine learning (ML), data analytics and blockchain to help enterprises enhance their business outcomes.

AI OVERHAULING HIRING PROCESS Tewari. ReferHire is a P2P social hiring network where users can itin Kumar signed up on several job portals in early check vacancies their peers may have put or tap them on behalf 2020 while looking to switch jobs. What worked of their company to earn their referral bonus. Nwell for him was an AI-based platform Instahyre that The next step after candidate discovery and engagement threw up relevant listings which matched his credentials. “The is closing the offer. Bengaluru-based HireSure is solving platform listed tech roles suited to my skill set and from known inefficiencies in this domain. “In the recruitment process, companies, which was not the case with other portals,” said the job offer rollout and acceptance experience is marred with Delhi-based software developer. Instahyre has developed a inefficiencies and trust deficit between the employer and matchmaking algorithm that analyses millions of data points to workforce,” said Vineet Dwivedi, founder and CEO, HireSure. find the job best suited for candidates using the platform. “This results in extremely low and unpredictable returns of The Delhi-based advanced hiring platform is streamlining recruitment drives. The problem that we are solving is that of a recruitment--from discovery, to communication to engagement- poor joining ratio after offer acceptance, which is the step that -of not just job seekers but also companies. Sarbojit Mallick, alone consumes 50 per cent of the total sunk cost of hiring.” co-founder and CBO, said “Our platform is solving three key HireSure uses blockchain technology to cryptographically store problems in the recruitment industry: high cost of hiring talent employment-related records. The company’s predictive tools use that often turns out to be unreliable, long hiring process and AI to offer insights related to employee compensation and offer difficulty job seekers face in discovering the right job.” acceptance behavior that helps companies increase their offer to Another startup changing the dynamics of recruitment is join ratio significantly, which brings down their hiring costs by ReferHire. As per founder Rohit Tewari, an estimated 70 per cent up to 50 per cent. jobs aren’t advertised and over 65 per cent vacancies get filled through referrals. For this reason, making the right connections MANAGING THE WORKFORCE THROUGH TECH has become an important criteria in advancing one’s career, part from hiring, managing the workforce is another which puts the majority of candidates who haven’t graduated humongous task HR professionals have to undertake. from top schools at a disadvantage. ACompanies like ZingHR and Leena AI are helping “We’re enabling professionals to build multiple peer level organizations transform the employee experience with the use connections in specific companies they want to target next,” said of tech. “We aim to solve issues that arise at every touch point

18 l ENTREPRENEUR l MAY 2021 HR TECH’S IMPACT ON BUSINESS OUTCOMES

Chatbots...

Automate 60% employee queries Reduce turnaround time by Digital “Beyond 40% consumption automation, HR Reduce unique queries by in HR has been tech tools directly over one year accelerated by impact business 30% a decade by outcomes and AI-ENABLED RECRUITMENT TOOLS… Covid-19” enhance employee Save hours of SARBOJIT MALLICK, experience” 15-20 Co-founder and CBO, PRASAD RAJPPAN, Instahyre recruiter’s time per week Founder and CEO, ZingHR Reduce hiring costs by 50% Reduce resume shortlisting across the employee lifecycle,” said Adit Jain, co-Founder and time by CEO, Leena AI. Leena AI’s product offerings include employee 90% onboarding and engagement, document management system, intelligent case management system, knowledge management COVID-19 HAS MADE HR TECH A PRIORITY system, offboarding module and virtual assistant. The company’s ovid-19 has upended the concept of workspaces and virtual assistant, equipped with Natural Language Processing employee engagement, making adoption of HR tech a (NLP) and ML, streamlines the storage and dissemination of Cnecessity rather than a choice. “In a workplace that information to employees in an organisation. Leena AI claims no longer functions on human interaction, the only way HR that 60 per cent of the employee queries are accurately resolved personnel can ensure employees have a smooth experience automatically without any human interference. is through the adoption of virtual assistants and other tech Clients corroborate the numbers. AirAsia claims that by using tools,” said Jain. To solve the challenges of business continuity, an AI-driven conversational platform it has automated 30 per ensuring productivity and compliance, adoption of HR tech cent of employee queries and the turnaround time for resolving has become a priority for businesses across sectors amidst the employee tickets has reduced by 41 per cent. “We derived pandemic. “One thing that is often neglected is the importance multiple ROI and advantages from the AskPac (in-house name of continuous engagement with the employees. Having a strong given to Leena AI platform),” said Mo Khurram Zia, head- people communication model in place will ensure that the productivity operations, AirAsia. “The stronger the FAQs, the less tickets are does not drop. This is where HR software solutions like ZingHR raised.” Deploying HR tech tools also helps companies address come into picture which can help companies to manage policy gaps. Through data analytics, companies assess the remote working challenges,” said Rajppan. “All HR processes, number and types of queries asked, which in turn gives insights be it onboarding, training, employee query resolution, or any on any information that is seeked most by employees and needs other core process, is now completely dependent on HR tech,” to be included in policy documents. said Jain, adding that the pandemic has accelerated digital Beyond automation, tech solutions also directly impact transformation of HR processes globally. business outcomes of organisations by empowering business Spurt in business growth of HR tech startups is a testament goals, delivering business strategy, enhancing employee to rapid adoption of tech tools by enterprises. For instance, performance and maximizing EBITDA margins, said Prasad Instahyre has registered a 12x growth in the number of signups Rajppan, founder and CEO, ZingHR. “Our HR software products and 480 per cent increase in platform usage since March last are employee-centric that can help enterprises to enhance the year, with its revenue growing seven times in the last six months. productivity of employees, stay connected and have effective “This is because companies had to adopt technology in the collaboration.” With global presence across SouthEast Asia, “new normal” and the recruitment underwent a sea change in Middle-East and Australia, ZingHR counts the likes of HDFC just a couple of weeks,” said Mallick. “As companies gave up Bank, Kotak Bank, Jubilant Foodworks, Burger King India and their physical offices and all interviews and onboarding became Muthoot Fincorp among its clients. virtual, adoption of technology grew by leaps and bounds.”

MAY 2021 l ENTREPRENEUR l 19 The HOME FITNESS WFH FASION More home workouts New materials, styles + fits Makers Virtual sessions at the gym to address all day wear The Builders Online fashion faring O of India’s New Zoom classes with trainers C CPG better than offiline Digital health takes off

OTT BEAUTY At-home entertainment Skintellectuals Good-for-you and better-for-you snacks Research into ingredients replaces popcorn at the mall Safe on skin Focus on sustainability Social proof like customer video testimonials + influencer marketing International trends like K-beauty + J-beauty

Consumers are... - Switching to online shopping not for discounts but for convenience, safety and options - Spending time on online discovery and education Depending on content and community to help them choose Brands are... - Leveraging influencer and affiliate marketing to build trust and stickiness - Creating social proof - Providing a direct experience for the customer through visuals, options, interface and delivery.

Source: Fireside Ventures

20 l ENTREPRENEUR l MAY 2021 IMMUNITY BOOSTERS KIDS FOOD FURNITURE Health awareness fuels nutra + immunity Healthy alternatives Home convenience from boosting products Wave of health & comfortable chair + bedding to lounge war Large evolving segments wellness across fresh + like food for diabetics + packaged food weight loss

FRESH + CONVENIENT Uptic for ready to cook Rise of home chiefs THE POWER OF OMNICHANNEL NEW CONSUMER BRANDS ON EVERY INDIAN DOORSTEP

MAY 2021 l ENTREPRENEUR l 21 are you disrupting The internet ecosystem and evolving consumer have made new business models viable and have led to the emergence of the direct-to-consumer (D2C) distribution channel. Today, India is witnessing the rise of D2C brands across categories and is estimated to become a USD 100 Bn addressable market by 2025. We expect high levels of funding activity in this space, increasing with passage of time, as the next more successful D2C outcomes will validate the hypothesis for newer capital deployment. It’s the David v/s Goliath play in the consumer space as challenger brands try to dethrone the legacy brands taking the digital first approach. In the ensuing pages, meet The Makers Co. at Entrepreneur as we take a deep dive into the world of consumer brands. decade of By Punita Sabharwal The Makers O The Builders C of India’s New shopping? CPG 22 l ENTREPRENEUR l MAY 2021 WAKEFIT.CO The Dream Catcher

he idea of the venture was generated when Ankit a co-founder of the venture went for mattress hunting and was baffled by the prices. The research and finding answers led to the conclusion that the mattress companies weren’t making much profit even though the prices were high as the margins were distributed between different middlemen and hence, Wakefit.co was formed. According to the co-founder of Wakefit.co Chaitanya Ramalingegowda, the best thing about being a D2C brand is the transparency it provides. The company is held responsible for any faulty product or a product that is not up to the standard of the consumer but the same cannot be said for offline brands as they can afford to neglect 10 consumers and still make adequate profit since the blame is distributed amongst the middlemen as well. Learnings that were realised overtime by the co-founders were to make simple promises but those open in public domain which kept the policies of the brand transparent and made it stick to the promises. Chaitanya says, “Failed ventures teach you a lot of humility”. He started Wakefit.co with Ankit Garg at the back of two failed entrepreneurial ventures. Wakefit.co was Chaitanya’s third startup whereas it was Ankit’s second. From being a management consultant to an entrepreneur, the journey was not easy. He explains that being a management consultant requires one to have a point-of-view whereas being an entrepreneur is completely the opposite. The thought behind his venture was that they wanted to be lead by the customers. Established in 2016, there were no competitors nor was there a go-to-market strategy. In 2015-2016, Wakefit.co was the only mattress Failed company to be listed on Amazon. The co-founders invested 3 lakh each ventures and sold the mattresses on Amazon. With the profits six months later, they opted for a website, a team and a small way of marketing which in teach you turn led to building traffic on their website. The website according to a lot of Chaitanya is important because people tend to forget the brand’s name when they buy a product from Amazon. The website keeps the brand in humility.” the consumer’s head which doesn’t allow them to forget the name of the Chaitanya brand. Chaitanya advises, “With no company to compete against until a Ramalingegowda, Co-founder and year, they learnt the not-to-do’s earlier than anyone who stepped in this Director, field which kept them five steps ahead of everyone else. Wakefit.co Wakefit.co started off with outsourcing but then got a basic manufacturing facility with the savings and little bit of investment from the co-founders. This manufacturing facility was completely manual but today, it has state-of-the art, cutting edge technology which are sensor driven, IoT driven. Wakefit.co was also the first company to import the Mattress-in-a-box machinery in-house. Another USP of being a D2C brand is that the negative feedback and the positive feedback reaches FACTSHEET the company on a regular basis. Hence, the revisions of the product Established in: 2016 are more frequent. The manufacturing units are set up in Rajasthan, Revenue for FY 2020-21: Bangalore and Delhi and also there are five experience stores, in INR 420 crore Bangalore, Hyderabad, Coimbatore, Lucknow and Gurgram each. People No. of employees: 1000 can go to the stores and get the experience of what the mattresses feel like but since the company is a digital native, the orders are placed online. Going forward Wakefit.co has forayed into home furniture etc. and the company is now positioning themselves as "a sleep and home solutions company".

MAYMAY 2021 l ENTREPRENEUR l 23 BOMBAY SHAVING COMPANY BOAT The King of The Grooming Soundmaker

stray conversation with a friend who was then interning here is a lot of learning that has gone in from at Hipster New York shaving brand Harry’s regarding last year for everyone. Same goes for boat blades, shaving creams and men’s grooming solutions founder, Aman gupta. Amidst accelerating got Shantanu Deshpandey thinking if there could be e-retail partnerships with Amazon, Flipkart an opportunity in India? “I spoke to family, friends and general etc, the brand also developed a strong D2C (Direct- consumers about their shaving habits and one thing became clear to-consumer) strategy. Talking about the same, – nobody really wanted to shave. In fact, many men hated the daily Gupta says, “With D2C we are now able to own ritual and, if given the option, would not shave. I realised that an the customer relationship and directly engage with opportunity existed in India – and that men grooming as a category them in relevant ways. And of course, this unlocks was a large, underserved and monopolised market that needed a the ability to capture rich first-party data which brand disruptor,” shares the Founder & CEO of Bombay Shaving can help us to create sought-after product launches, Company. Bombay Shaving Company (BSC) is among the first of events, content, and loyalty or subscription models.” the ‘D2C brands’ and built incredible D2C skills across content, Currently, boAt covers 90% of India technology stacks, data analytics and performance marketing. pin codes via a mix of offline and These skills have attracted global giants like Colgate and Reckitt FACTSHEET online retail. “In terms of sales, online to invest in the brand. BSC is now the #2 shaving consumables • Bestsellers: contributes to 80% of our sales, and company online in India and there are early signs of it being a AirDopes TWS the remaining 20% is achieved through serious challenger offline too. For e.g., they have 15% share in Metro earphones and our offline channel,” informs Gupta. Rockers Wireless Cash and Carry in the shaving category. “We are taking on large Another major learning for Gupta Headphones organisations in deep consumer categories and reinventing the in the time of pandemic was to look • No. of employees: way the category has operated till now. We have started to create manufacturing in India. Before covid, 150 Across Delhi, an independent category of solutions for women’s a major part of the manufacturing Mumbai, and hair removal, which till date has been relegated FACTSHEET was commissioned outside India Bangalore to a subsection with products copied from men’s • Established (Singapore, China amongst others) • Revenue: grossed solutions,” shares Deshpandey. in: 2015 but being agile, they are now slowly Rs 704 crore mark Currently, BSC generates most of its revenue during FY20 • Team size: 150 moving towards “Make in India”. from the online channels, as compared to the offline “Top sellers like Bassheads (Wired • Repeat customer channels. Within the online channel, the company • Current ratio: 30% turnover: gross Earphones & Headphones) and Rockerz generates a significant percentage of revenue from ARR of 100 cr series (Wireless Headphones) are now • Units sold per marketplaces such as Amazon, Flipkart Nykaa Big day: 14000-16000 ‘Made in India. We will surely add Basket, Myntra and others. The remaining revenue is generated more products to this list in the coming from the company’s own D2C website. When questioned about the months,” shares Gupta. retail strategy, Deshpandey says, “We are striving to strengthen the boAt has been profitable since day one but company’s offline presence and retail expansion. As of February external investment helped them in making the 2021, Bombay Shaving Company is present across 15,000 retail fundamentals even stronger and in further bringing touch points. Also, BSC has diversified geographically, and is now structure to the processes. The equity investment available in 4 countries in Southeast Asia.” from Warburg Pincus and Qualcomm Ventures will help the company build momentum in the coming year as it builds up its R&D and manufacturing capabilities. boAt continues to achieve rapid revenue We are taking on growth - 100%+ over the past several years. In large organisations the past year, it has doubled its employee strength in deep consumer and has built up a local R&D in Bangalore. The company has also expanded into newer categories categories and like smartwatches, besides launching over 20 new reinventing the way products in the audio category in FY21. the category has Talking about expansion, Gupta says, “We hope to achieve our FY 23-24 target of Rs 1000 sooner operated till now.” than expected. We are boosting our D2C channel and Shantanu Deshpandey, also exploring social commerce strongly. Besides this Founder & CEO, Bombay offline will be key to our growth.” Shaving Company.

24 l ENTREPRENEUR l MMAYAY 2021 With D2C we are now able to own the customer relationship and directly engage with them in relevant ways.” Aman Gupta, Co-founder, boAt

MAYMAY 2021 l ENTREPRENEUR l 25 CLOVIA research, we found that the clothing in the last few prevailed distribution channel months due to the prevailing restricts the flow of customer Work from home scenario. feedback back to the brand “We have noticed a 100% The Lingerie and therefore, there was a lack growth in FY’20 over FY’19 of innovation and variety. To with our own online store bridge the existing gap in the now almost 15% month on Maker lingerie business, we decided month. We grew our sleep & to take the plunge into this loungewear line multifold, business. The same time we doubled down on innerwear ingerie has always evolution of this category in were joined by our co-founder in the last three quarters. been talked about India had not kept pace with Suman, a lingerie expert and We observed a 9X scale in in hushed voices in the fast-changing outerwear Clovia happened!” Clovia has sleepwear and loungewear, a our country. It has fashion. Talking about the further combined fashion with 6X scale in Maternity lingerie always been an uncomfortable idea behind launching Clovia, tech where they use smart and feeding nightwear, and a experience for women to Pankaj Vermani, its Founder technology to monitor the 2X scale in Clovia’s customer shop from physical stores and CEO says, “We realized sales trends and patterns on partnership program,” shares as they were mostly run that there exists a major the website, app, offline stores, Vermani. With improved by men. Both Neha and gap in intimate wear for marketplaces and then manage margins and repeat business Pankaj Vermani felt that the women in India. Upon deeper the inventory basis the from existing customers, the consumption patterns brand achieved profitability and decisions of the post lockdown with a double- customers. Their digit EBITDA. FACTSHEET proprietary Clovia Sharing the current • Team size: 200 Curve Fit Test has revenue run rate, Vermani people in the helped almost 600k says, “Clovia is currently at a corporate head women so far to run rate of 250 crore selling quarters, and another 400 women understand the right 1 piece every 3-4 seconds.” staff on ground and size for them. The Clovia recently forayed into warehouse team brand recently started the personal care category – members. retailing through Botaniqa – an entire range • Present across 250+ offline channels but dedicated to the needs of new stores in 50 locations 85% of Clovia sales moms and has come with with a wide physical still come from online 18 new products. Talking presence in metros, channels. further about the expansion tier II and tier III cities Despite the plans Vermani says, “We • Clovia raised $4 Mn on-going dip in are planning to see Clovia’s in the Pre-Series C round from multiple businesses across presence in at least two more investors. sectors, Clovia international geographies. witnessed great Meanwhile we plan to triple inclination in casual our offline store count in the and comfortable coming year.”

We have noticed a 100% growth in FY’20 over FY’19 with our own online store now almost 15% month on month.” Pankaj Vermani, Founder and CEO, Clovia

26 l ENTREPRENEUR l MMAYAY 2021 Its products are more mentions, “The visual value for the price tag image of your product it command- highly is the first contact your pigmented, longer-lasting consumers have, so it’s and well suited to the always important to create Indian skin tone. SUGAR a great first impression. was actually launched Another learning would with just two products be – build content that’s due to working capital educative, engaging and constraints- 1 black kajal relatable rather than and 1 black matte eyeliner. just hard pushing your product.” Going forward, the brand aims to expand “The visual to 40,000+ retail outlets over the next 12-18 image of your months compared to the product is the 10,000+ currently. Even during the pandemic, first contact your they have launched consumers have, approximately 10 exclusive retail outlets and kiosks so it’s always and are even looking at international presence important to beyond US & Russia create a great where they are currently present. In the past one first impression.” year, SUGAR has doubled Vineeta Singh, Co-founder & CEO, down on content and SUGAR Cosmetics expanded to high quality and longer-format video/ It's a different thing that text content, keeping it the eyeliner went on to very educational. This become a bestseller and paid off as they were able paved the way for future to reach 6M+ following launches. across all the digital The products are platforms. They also saw manufactured in state- increased traction on the of-the-art facilities brand owned app which across many countries crossed 1M+ downloads like Germany, Italy, India, with a 4.6+ rating on iOS USA, Korea, etc. As for & Android. This beauty disruptor SUGAR’s supply chain, they have presence across retail store including is changing the FACTSHEET standalone and online •Best performing online sales marketplaces along with channel- Our own website cosmetic industry D2C channel shipping •Best social media app for directly to customers in marketing- Instagram 18000+ pin codes all over • Best Selling products- From India. While FY 19-20 etail space is super back, I know that it helps us our Lips Category – Smudge saw a split of about 60% precious and expensive control the brand narrative Me Not Liquid Lipstick, from offline and 40% online in India and the and be closer to the consumer Face category - Ace Of Face sales, as SUGAR Cosmetics Foundation Stick and from only way for SUGAR for feedback during the initial rapidly expanded its Eyes Category - Stroke Of Cosmetics to prove product phases - both priceless.” retail channels, FY 20- Genius Heavy-Duty Kajal market fit and demand was to SUGAR was founded on three 21 saw getting back to •No. of employees- 2000+ ace this in the first two years pillars: Listening to consumers, almost 50% of its sales •Current Turnover- yet to be of the brand. So D2C was not staying away from discounting from online channels. assessed however, it would be only the chosen way – it was the and focusing on content for the Pointing out few major approx. 30 - 40% above last only way for them. Reminiscing consumers. SUGAR has always year's revenue that was INR learnings from my journey the same, Today Vineeta Singh, been the anti-establishment, 105+ CR of building SUGAR Co-founder & CEO, SUGAR more creator-than-celebrity- •No. of SKUs- 500+ Cosmetics as a D2C Singh Cosmetics says, “When I look led voice in a cluttered market.

MAYMAY 2021 l ENTREPRENEUR l 27 VAHDAM The Tea Freak

ea is one of the healthiest beverages after water. India grows 25% of the world’s tea production and in addition, India is also a magical land of ingredients and superfoods like Turmeric, Moringa, Ashwagandha, Tulsi, Giloy and more. Turmeric is one of the most trending and high growth superfoods. India produces 80% of the world’s turmeric production. All of these products have strong wellness connotations which have been accepted by people globally. All of these originate from India, but no home-grown Indian brand has actually taken it global. That is where a 23-year-old Bala Sarda saw an opportunity. He founded Vahdam India in 2015 taking India’s finest teas and superfoods to the world under a sustainable, home-grown brand. His idea was to make available a much fresher, higher quality product to the customers direct from source, devoid of any middlemen. In these last six years Vahdam has shipped to 2 million customers closing this Financial Year with 159 crore in revenue while turning the venture profitable. Shipping to 130 countries with USA, Canada, UK, Germany and now India, being the key markets, Vahdam became one of the largest digitally native consumer brands in the country. Talking about building a global brand from day one through Internet as the medium, Bala Sarda, Founder, Vahdam India says, “We shipped to 50 countries in the first year of operations which would not have been possible had it not been for the internet and the fact that it is a digitally native brand. And more importantly, this is a model which can be replicated in multiple markets.” In the US, Vahdam is now omnichannel with its presence in 800 doors in premium retail chains including Nordstrom, FACTSHEET Neiman Marcus, Bloomingdales, Saks Fifth Avenue, Bergdorf • Best seller - Goodman and also in Wegmans, Macy’s, Erewhon and Turmeric Range Sprouts Market. In fact, the brand formally entered the of Herbal Teas Indian market only early last year. • Team size - 400 The pandemic has accelerated Vahdam’s growth, given (150 white-collar the shift towards wellness products, larger adoption & 300 blue- of e-commerce globally and a more effective execution collar) capability with a strong leadership team in place. Sharing • Repeat the expansion plans, Sarda says, we plan to continue to grow customer ratio - 35-40% by focusing on three key growth triggers i.e going deeper of monthly in our current markets (USA, Canada, UK & Germany) revenue comes and grow our omni-channel distribution, strengthen our from repeat presence in new markets like India and diversify into other customers relevant product categories.” As of now, India contributes less than 10% in the overall revenue, while 90% of the revenue comes from international markets.

28 l ENTREPRENEUR l MMAYAY 2021 RAGE COFFEE The Coffee Man

he journey of Rage was missing,” shares Bharat Moreover, the company has Coffee started with Sethi, Founder, Rage Coffee. recently entered the US market a simple thought That is when he decided through Amazon. It also has a We shipped to to solve a personal to focus on ingredients, small amount of distribution problem - How to get a great formulations, manufacturing to the UAE and Australia. 50 countries in tasting coffee at a reasonable techniques, packaging, During Covid, they experienced the first year cost, without shelling out and direct-to-consumer a 300% surge, registering a too much money in cafes or distribution to bring a 4X increase in both offline of operations spending much time brewing premium quality product with and online sales during the which would one. “I started conducting a unique coffee experience to lockdown. surveys and identified that everyone. He used feedback, Since its inception in not have been the coffee market had huge data and engaged in extensive 2018, Rage Coffee has been possible had potential and many unserved R&D to deliver a premium speedily scaling up to new gaps. In fact, there was hardly quality coffee for all. geographies while expanding it not been for any lifestyle aspirational brand Rage Coffee employs an its offline network (from 5 to the internet built around such an emotional omnichannel approach, 20 distributors) pan-India. subject that is ‘coffee’. As the selling 50% online, and the In fact, Delhi-NCR, Mumbai, and the fact category remained largely rest offline. For online, about Pune, Hyderabad, Bangalore, that it is a underserved, was devoid 75% of sales are through its and Chennai are currently the of any real innovation, and website and 25% through main hubs for online sales of digitally native underpenetrated online, it e-commerce platforms. Rage Rage Coffee. brand.” provided us with a unique Coffee is available on all major Rage Coffee’s target is opportunity to strike a online platforms in India. to clock 3X revenue growth Bala Sarda, Founder, balance between affordability, The products are available in from US$2million up to US$ Vahdam India consumption, and quality that more than 600 retail outlets. 6million by the end of 2021.

The category remained largely underserved, was devoid of any real innovation, and underpenetrated online, it provided us with a unique opportunity to strike a balance between affordability, consumption, and quality that was missing.” Bharat Sethi, Founder, Rage Coffee

FACTSHEET • Launched in: 2018 • Over 500k products sold • Total of 35 full- time resources • The current turnover is clocked at US$2 million.

MAYMAY 2021 l ENTREPRENEUR l 29 MAMAEARTH The Daddy of babycare

amaearth are, and hence online natural ingredients to in the rural markets and plans to expand is a presence is pivotal. create them with zero has witnessed a steep to 100 cities in 2021. purpose- Emphasizing on the chemicals. The ‘Made growth. Currently, Being a digital-first led digital- same, Alagh says, Safe” certificate added over 50% of sales for brand, their products first brand, conceived “One of the biggest to the credibility of our Mamaearth come from are also available as an idea to provide learnings from a D2C products as parents outside of the top-10 across multiple online toxin-free babycare channel is that the need reassurance while cities. Eventually, they channels along with products is a brand turnaround time of buying baby products,” plan to expand presence Amazon, Flipkart, created by millennials, consumer feedback, adds Alagh. in Tier II and Tier III Firstcry and Nykaa and for millennials. Sharing innovating, and Mamaearth’s cities. Mamaearth their own website and the idea when D2C providing the products acquisition strategy is present offline in app. startup was conceived, to the consumers is is purely focused on stores across Delhi, Varun Alagh, Co- significantly lower.” digital content. “We Mumbai and Bengaluru founder, Mamaearth As new parents, want consumers to read says, “We wanted Varun and Ghazal about the problems to connect with the were scouting the that our products solve One of the biggest learnings millennial audience market for the safest and why our products from a D2C channel is that the directly and make baby care products are the best in the turnaround time of consumer ourselves available to that were toxin free. market. We are also them. Being D2C helped Unfortunately, they innovating constantly feedback, innovating, and us seek feedback and did not find a single to stay relevant and providing the products to the constantly reinvent brand that met the cater to the dynamic and innovate to provide specifications. That market needs,” states consumers is significantly lower.” our consumers with is when the idea of Alagh. E-commerce Varun Alagh, Co-founder, Mamaearth solutions that help making their own provide solutions to products using millennials concerns.” natural ingredients Being a digital first came up. “Since we brand, the share of knew firsthand what online is significantly higher. However, since FACTSHEET 2020, they have been • Best performing online aggressively expanding sales channel – Our own offline presence as website well. “Currently offline • Best social media is contributing to app for marketing - about 20% of the total Instagram followed by revenue which we are Facebook hoping to increase • Best selling products - in the coming year,” Onion range, Vitamin c shares Alagh. range and Ubtan range When Mamaearth • No. of was started in 2016, employees–200+ it was bridging the • Current Turnover - 112 gap in the market by Cr in FY 2020 creating toxin-free baby • No. of SKUs – 120+ products. Millennials our baby needed, we parents are constantly created the products on a lookout for safe accordingly. Our first products for their batch of products babies and everyone is included baby lotion looking for solutions and mosquito repellant. online. Hence it is Both these products important to be present are always in demand where the consumers for babies. We used

30 l ENTREPRENEUR l MMAYAY 2021 PLAYSHIFU The Doting Father making children learn through play

inesh and Vivek countries and $100k to have been longtime start their journey with friends since their Orboot. “Nine months IIT Kharagpur and several iterations and and P&G days. Back in upgrades later, our team of 2016, when they met after nine people finally brought a few years, both discussed the magic to life in 2017. their concerns about how We were able to place ‘the inseparable children and whole world’ in the hands technology/screens are today! of children - for them to Dinesh’s son was four and explore all its secrets, from Vivek was a new dad. The duo cuisines and culture to discussed a few ideas of how inventions and fantastic they could merge tactile and facts,” shares Goyal. digital play. Together, they Children FACTSHEET pulled a team of five and after could extensive research, zeroed scan the • Team size: 120 in on Augmented Reality! globe and • Raised $17 Talking about the idea behind bring to million in Series what we today know as life all the B in April 2021 PlayShifu, Vivek Goyal its wonders CEO and Co-Founder says, of the world, in 3D! After “A child’s brain development Orboot, they launched in the early years (3-11 Plugo, an AR-powered years) is centered around gaming system to build play and entertainment. STEAM skills through saw a 300% surge in But today, children spend story-based challenges. We were demand for the educational over four hours every day on Soon, they will be launching tech products after screens (mobiles, tablets, their third flagship, Tacto, able to place ‘the lockdown, and grew 600% and laptops). And that’s which is the first-ever whole world’ in April 2020 vs. 2019. when it became clear that phygital board-game system Emphasizing on the growth, screen time had to be more that turns any tablet into in the hands of Goyal adds, “We started hands-on.” This idea opened an interactive board to play the year with being present up unlimited possibilities with real figurines. children - for in 15 countries and ended to merge learning and play. Talking about their split them to explore 2021 on a high note of being Today, PlayShifu operates between offline and online present in more than 35 at an intersection of three sales, Goyal mentions, “On all its secrets, countries. Our number of industries: Toys, Gaming, a typical day, our US sales from cuisines users has also gone up from and Education. Their are 60% online and 40% 250K to 600K in the same first product and also the offline. With the lockdown and culture to period.” Going forward bestseller is Orboot Earth and pandemic, there has the plan is to expand the – the first-ever Augmented been a drastic shift in favor inventions and product range from 12 to Reality globe for kids. The of online sales.” While fantastic facts,” 30 products to cover over team did a very successful COVID-19 disrupted many Vivek Goyal, CEO and 20 early-learning skills by Kickstarter campaign that businesses, it had a positive Co-Founder, PlayShifu 2022. gave them backers from 100 effect on PlayShifu. They

MAYMAY 2021 l ENTREPRENEUR l 31 ATOMBERG TECHNOLOGIES The consumer appliance startup maintains that they have received a funding of $25 million till date and are expecting to break-even by April, 2021. The Man Who Meena further shared that their piece of growth will be triggered by expanding the company’s offline distribution to new Reincarnated ‘The adjacent categories. As with e-commerce still accounting for 40 per cent of the company’s B2C Flying Machine’ sales and online leads influencing about 80 per cent of all sales, most of our marketing initiatives use digital as a medium. So, he plans to achieve fully e-commerce enabled website with 100 lmost 30 per cent of Indians Innovation Foundation team taught us per cent marketing automation, lead do not have sufficient access to what philosopher Confucius believed generation campaigns across Facebook to electricity and according to in ‘it doesn’t matter how slow you go, as and Google with online-offline sync to the founder of energy-efficient long as you don’t stop,’ and so we kept create awareness about energy efficiency smart fans maker Atomberg Technologies, the momentum on, instead of focusing on amongst Indian citizens and to motivate traditional ceiling fan is one of the highest zero revenue we focused on R&D, training, them to take a pledge to move towards power-consuming appliances and are fundraising, reaching out to our partners, a sustainable way of living, and highly highly incompetent running on the old seeking their help and eventually optimized performance marketing induction motor technology. Lack of overcoming all hurdles. As a result we campaigns on e-commerce portals like innovation in this sector sprouted an delivered more than threefold year-over- Amazon and Flipkart to ultimately opportunity for the founder and came up year growth consistently for the last three position the company to emerge as with idea to design and manufacture their quarters and also closed our Series B a leader in the cleantech segment in most energy-efficient ceiling fan ‘Gorilla’ funding round,” he further stated. appliances. that runs on motor consuming only 28W power that consumes 65 per cent less power compared with ordinary fans consuming 75-80W power. Atomberg Technologies founder and chief executive officer Manoj Meena together with co-founder Sibabrata Das established the What philosopher concept of BLDC motor technology Confucius believed and said to have served more in ‘it doesn’t than 1 million consumers with matter how slow some of their major clients in the you go, as long as institutional side counts Indian you don’t stop,’ Railway, IIT, Tata power, Reliance and so we kept and ICICI, among others. the momentum The Mumbai-headquartered on, as a result smart fans maker champions the we delivered Indian government’s vision of more than Atmanirbhar Bharat and Vocal for threefold year- Local and to align with that theme, over-year growth the 33-year-old founder further consistently for maintains that their whole product the last three range is 100 per cent Made-In-India. quarters and also With the amount of social and closed our Series B financial responsibility, come funding round.” paramount obstacles. Manoj Meena, Founder “FY20-21 was a very difficult and CEO, Atomberg time for all of us, we saw almost Technologies zero revenue for three months and pressure on working capital,” shared Meena. “Our previous ‘near death experiences’ and the Marico

32 l ENTREPRENEUR l MMAYAY 2021 Meghana and I always joke saying we are grandma tech company because we just want to bring back how Shauravi Meghana grandma’s ate Malik Narayan by making it convenient for the consumer by being available, by being tech- savvy in terms of D2C, and by being on the shelves with customers,” Shauravi Malik Slurrp Farm

SLURRP FARM The Co-packers of nutrition

urugram-based we didn’t have kids at that only eat wheat and rice with have reached about 700,000 Slurrp Farm—a time so we didn’t understand lots of masala and sugar and customers over the last five company that the scale of the problem. salt. And you know, she's years, on several airlines believes millet When we had kids ourselves, told me say like the problem like AirAsia and SpiceJet can fuel an even greater we realized the need because of nutrition is on both ends. and on in every major offline purpose—is a millet-based there is no real innovation as It's not just poor people in retail store such as Modern packaged food brand that there were the same brands India who are nutrition poor. Bazar, Reliance Fresh stores was started in 2016 by two and products in the market. It's also well-off people being in different cities, Amazon, mothers, Meghana Narayan They offer a lot of sugar and malnourished and being obese. BigBasket, Firstcry, Flipkart, and Shauravi Malik, to offer maida in them.” There is this two spectrum in and their own website. They healthy eating options for “Meghana and I always joke India and one in three children sell on all these channels in children. The idea was to saying we are grandma tech in India falls into one of the India, also in the UAE and bring back super grains such company because we just want two,” she remarked with Singapore. as bajra, jowar, and ragi into to bring back how grandma’s ringing concern. The brand is available at their diet. ate by making it convenient And that’s how Slurrp 800 stores across 8 cities in As a brand that primarily for the consumer by being Farm was born because they India, serving close to 5 lakh talks to parents, Slurrp available, by being tech- felt that working parents and customers, and has a 40 per Farm has a lot on its plate savvy in terms of D2C, and people who live a healthy cent repeat rate on Amazon. to aesthetically arrange and by being on the shelves with and busy lifestyle, need Its annual recurring revenue experiment with. They got customers,” Malik shared. alternatives. With their target (ARR) has grown to 300 acquainted five years ago and “What happened is that audience being children under per cent during the last six at the time all their friends when we started to eat like the age of 10, they decided to months and is expected to started having kids and asking the West and eating how the focus on the children market: grow at the same rate to an them to bring children’s food rest of the world, we have to children and to parents ARR of $5 to 6 million in the bag. Malik told Entrepreneur stopped thinking what food who want to make better next 12 months. India while reminiscing, “And to eat in what season; we choices for the children. They

MAYMAY 2021 l ENTREPRENEUR l 33 We are looking to add menswear, kidswear, jewellery and bags.” Anurag Singh Khangarot, Co-founder & Rimjhim Hada, Founder & Creative Director, Aachho.

AACHHO credit.” Their major clientele within India hails from tier II and metros, The Curators of with customers in the USA, UK, UAE, Canada and Australia too. Within just a little over three years after launch, the brand has clocked an impressive growth. Sharing the brand’s online growth Indian Couture story, Khangarot says, “Our 2019-20 turnover was Rs.3.5 crore. We closed FY 2020-21 with Rs. 19 crore.” Reminiscing on the initial days, he says, we registered our domain “aachho” on 14th Aug 2016, “Till we went live with our t her wedding in 2015, Rimjhim Hada, Founder & Creative website in 2018, we were strengthening our social media platform. Director, ‘Aachho’, fused an heirloom gold-zari Rajputi Social media (SM) is an integral part of our business. We get to poshak with a new fabric for a contemporary touch. She know our customers closely and can track how they are interacting was already designing ethnic attires with contemporary with our content. SM helps us garner the influencers and prominent silhouettes from her mom’s bandhej/lehriya sari collection during personalities from our industries. Our customers have been our her college days. Anurag Singh Khangarot, Co-founder, Aachho, was great marketers, we have grown so far through word-of-mouth.” deeply passionate about digital and e-tailing. So, when his previous On retail outlets, says Khangarot, “Through online presence, employer changed their business model from e-couponing to we are reaching 26,000+ pin codes in India and 220+ countries Ecommerce, he pursued a Digital Marketing course from XLRI. and territories worldwide. Physical locations will have a limited Hada is more into the creative and software side, while reach. However, we are planning premium stores to create real- Khangarot has business and digital expertise, ethnicity being life experiences for consumers and allow shoppers to have more common to the two entrepreneurs. The two came together and meaningful interactions with our products.” founded ‘Aachho’ in 2018, a fusion fashion label showcasing the About future plans, says Khangarot, “Our plan is to scale up designs and colours of Royal Rajasthan. The ensemble, which is categories and brands so that we can widen the a special tribute to their homeland, also brings beautiful Indian FACTSHEET number of SKUs. We will strengthen our strategic ethnic and handcrafted products on a single platform, by offering a •Launched partnerships with marketplaces like Nykaa rich, cultural diversity of traditional colours and hand block prints. in 2018 Fashion Online Store and the plan is to contribute Initially, the boot-strapped start-up was fraught with hiccups. •Closed FY a significance share into their revenues.” Adds Khangarot says, “But over time, we were truly blessed to have loyal 2021 with Hada, “We are looking to add menswear, kidswear, and repeat customers - the biggest investors in our company. We Rs. 19 crore jewellery and bags.” have a good rapport with our suppliers also, who often help us with turnover

34 l ENTREPRENEUR l MMAYAY 2021 LtoR: Taran Chhabra, Founder NEEMAN’S & CEO & Amar Preet Singh, The Duo who Co-founder redefined Comfy Neeman’s Sneakers in India

e have all heard growth since Covid-19, that we are has an enviable clientele given problems of celebrities and start- we can handle. But Taran up founders, is a hit Chhabra, Founder & CEO, in Tier I, II cities and Neeman’s was ‘chosen’ metros, Chhabra shares to find a solution to a marketing strategies that peculiar problem. His led to the D2C online the product, to showcase strategies, he adds, “As FACTSHEET search for a single pair brand’s phenomenal how different and better and when we keep scaling •Founded in: 2018 of footwear, suitable for growth without incurring it is.” with new categories, •Neeman’s is all occasions, led him major ad spends. Says On convincing online styles, geographies, we rated as ‘The Most to introduce India’s Chhabra, “We have customers, Chhabra says, will keep relying on Comfortable Shoe’ by 95% of our first natural fibre shoe, always relied heavily “Footwear in India has a content. We want to customers. that reduces carbon on content. We have tremendous opportunity showcase why our new- •Over 22% of re- foot print, is sock-free, used content marketing; online. Ecommerce is age brand is better and its order rate within 24 odour-resistant, and different platforms penetrating, people want unique features.” months of launch. temperature regulating, such as B2B and B2C to shop online. Customers On future plans, he •Growing at 15% and also develop its to reach our TG and have the liberty to try our says, “No physical stores m-o-m. manufacturing technique. content specific to that products at home and for now, we are only D2C. •Footwear available Talking about India’s platform and all possible we offer a no-questions- Though we are looking in a wide price first, sustainable, eco- strategies. We have used asked return and refund at an omni-channel range of INR 700- conscious footwear brand the power of content to policy.” Talking about presence in the near 5000. that reported over 5x show different videos of their future marketing future.”

GREEN SOUL ERGONOMICS being of people and his own online, the first-generation difficulty in finding an office founder says, “To help The Game Changers of chair led him to start Green customers choose the perfect Soul Ergonomics in 2016 fit furniture, we started Ergonomic Furniture as an online D2C brand. On working on our product the challenges in building listings, incorporating granular his brand, Khushwani says, details along with 3D and he career-minded/ the pioneer of DIY ergonomic “The initial challenge was video description of products. gamers/Youtubers furniture brand. Without in the form of consumer We also focussed on setting up and now, the WFH Green Soul ergonomic chairs, acceptance of DIY furniture. a dedicated customer service community ought to give it up you probably would not be We overcame this by creating team to assist in making the for Ravi Khushwani, CEO & as productive and efficient. A a robust network of freelance right choices, and the active MD, Green Soul Ergonomics, vision to improve the well- technicians, focussed more word-of-mouth brought us on curating assembly videos, more customers.” Continuing and live video support. This its enriching journey, Green has significantly altered the Soul Ergonomics has posted consumer behaviour in the 3x growth in revenue from recent years, making them Rs. 12 crores to Rs. 37 crores trust online platforms for in FY 2021. On their future, furniture purchases.” When Khushwani says, “In the building and then scaling coming years, our focus is on 100% Make in India. We will Ravi Khushwani, CEO & MD, continue to strive towards our FACTSHEET Green Soul Ergonomics aim of promoting health and •Launched in 2016 wellbeing through customized •Closed the year FY 2021 at Rs. and personalised ergonomic 37 crore, 3x the growth over solutions. previous year.

MAYMAY 2021 l ENTREPRENEUR l 35 LICIOUS

processing. We had to work livelihood to many butchers towards upgrading the entire (Licious calls them meat The Meat Men ecosystem to ensure we can technicians & meat handlers). actually deliver everything The company is also that we envisioned to. The reinventing the authentic lthough 73% of That was the moment they fact that we own and operate a Indian cuisine through Indian eats meat realized what they wanted to proprietary supply chain gives their range of ready- to- and seafood, the achieve through Licious. us many advantages.” cook products that includes industry is highly Talking about the Today, Licious is one of regional delicacies like – unorganized. An average challenges, the duo mentions, India’s largest D2C meat & sheikh kebabs, galouti kebabs, Indian household consumes “Back in 2015, when we seafood brand. All Licious’ chicken ghee roast, mutton 2000-3000 different branded started operations there products go through more chukka, prawn sukke etc. products, meat being the were no quality standards or than 150 quality checks Licious also introduced India only exception (well, almost). processes in place, no farm- through different stages of to chicken & prawn based More than 95% of the fresh to-fork model, no continuous procurement & processing ready-to-eat spreads. When meat & seafood industry in cold-chain! We couldn’t until it reaches the consumer’s asked about the split between India is unorganized & usually depend on modern retail doorstep. Licious owns the offline sales and sales through conjures up an image of for sale of products because complete supply chain end-to- ecommerce channels. The duo unhygienic local market, filth, they couldn’t guarantee the end. The Licious Processing answers, “The Licious app stench & an unpleasant buying 0-4 deg temp controlled Centres (total 5- one each in and web accounts for 98% experience. Abhay Hanjura environment that is must for Mumbai, Delhi, Hyderabad& of the revenue at this point approached Vivek Gupta (then our products. There was an 2 in Bangalore) are complaint of time. However, we plan to working with Helion ventures) overall dearth of knowledge with global standards and significantly strengthen the to explore the space of fresh about meat handling and provide respectable jobs and offline presence during the meat & seafood delivery next three years.” The brand in India. The duo wanted also sells some of their RTC to change the way Indians with a higher shelf-life & experience meat. Abhay & At Licious, the business meat & seafood-based spreads Vivek were having lunch while saw a 300% growth during the through select modern retail. discussing the business idea. At Licious, the business The chicken they were having greater part of last financial saw a 300% growth during was of really bad quality. Vivek year and continues to hold on to the greater part of last remarked that, if we have to financial year and continues build Licious we will have to the momentum.” to hold on to the momentum. put life in this dead chicken! Abhay Hanjura & Vivek Gupta, Co-Founders, Licious While all product categories saw growth, the ready-to-cook and ready-to-eat categories contributed significantly to the revenue. Currently, Licious delivers more than a million orders per month. The average basket size per consumer grew by 30% too. The company has enjoyed a repeat purchase rate of 90% and continues to enjoy the same. Licious FACTSHEET operates in 14 markets across •100 Delivery India, namely Bangalore, centres Hyderabad, NCR, Chandigarh, •3500+ Mumbai, Pune, Chennai, employees Jaipur, Coimbatore, Kochi, •Raised $90 Puducherry, Vizag, Vijayawada million funding and Kolkata. Over the next so far year Licious will continue to •Served 1 expand to 10+ Indian cities. million+ unique A global expansion is also on customers till cards in near future. date

36 l ENTREPRENEUR l MMAYAY 2021 We ensure that milk is sourced fresh as cow milk and buffalo milk and delivered to the doorstep of customer in 24-36 hours from milking we even give a fresh milk kit to every family that allows them to test the purity of milk right at their doorstep.” Chakradhar Gade, CoFounder, Country Delight.

COUNTRY DELIGHT their doorstep, shares Chakradhar Gade, After bootstrapping the business CoFounder, Country Delight. for five years, the founders looked at Being a full stack D2C brand all its raising external investment in 2017. To Milkman products are served only through the support growth they have had partners Country delight app and delivered such as Elevation Capital (Saif Partners), direct to home by country delight. The Matrix Partners, IIFL and Orios Venture he desire to build a large brand company has a full-stack and operates Partners. In the last three years they which impacts millions of under a daily subscription model serving have raised about ~$ 50 Mn and have customers and that stands for its customers fresh cow & buffalo grown ~55 times in revenue. a customer first thinking led to the milk, GharJaisaDahi, DesiDanedar The company plans to cover the entire launch of Country Delight. Country Ghee, TaazaPaneer, and Fresh Breads basket of food essential under the brand Delight (CD) works on the promise of & Eggs. When asked about running the name of Country Delight delivering Pure, natural goodness and believes that all operations during Covid, Gade says, Fresh and Minimally processed products its customers should consume food “Being a full stack business, we have directly to the doorstep of the customer. essentials in a format that is as close as full control over “Some of the categories we are looking to possible to the way nature provides. CD FACTSHEET our supply chain. capture in the next 1 year include Fresh milk is traced all the way directly to the This has enabled us Fruits & Vegetables and Cold Pressed farmers, using the latest and real-time • team of ~900 deliver food essentials Oils,” shares Gade. IOT tech to track quality right at the people working with over 1200 reliably throughout The aim of the brand is to bring the source. “We ensure that milk is sourced farmers and about the COVID crisis. Even entire country side and country side fresh as cow milk and buffalo milk and 3500 morning on the worst day of products directly to the doorstep of delivered to the doorstep of customer in entrepreneurs the lockdown we have every customer every morning under the 24-36 hours from milking we even give a • We are a $55 been delivering with promise of Naturally Achha, Naturally fresh milk kit to every family that allows Million revenue 96% fulfillment rates.” Sacha. them to test the purity of milk right at business

MAYMAY 2021 l ENTREPRENEUR l 37 HOPSCOTCH The Kid Draper

hen Rahul market has moved and 40+% Anand says, “The average on-trend, fashionable kids’ Anand observed of items produced have to be consumer visits Hopscotch apparel. Retailers (online social media heavily discounted. The waste once a week and as her and offline) are keen to had exposed in the system forces brands kids keep growing, she is feature Hopscotch and serve the Indian consumer to the to work on 400% margins, constantly shopping for their consumers with pent world of kids’ fashion, and making brands unaffordable different occasions - parties, up demand. When asked parents across India had a to the Indian consumer. formals, sports, athleisure, about the growth, the brand deep, pent-up desire to dress This forced the founder to sleep, and ethnic wear. Kids' witnessed in the Covid their kids in the latest fashion be disruptive with the way needs are never-ending. period Anand says, “We’ve trends – he thought about the company designed its Moms are willing to do what seen unprecedented growth Hopscotch. “By cutting out supply chain to ensure they it takes to ensure their kids in online adoption, and the middleman and going could offer the consumers are well dressed and stand especially in smaller towns direct to the consumer, we aspiration along with out in the crowd provided you where consumers are starved offered unparalleled value affordability. Sharing insights, offer them value.” of strong selection and to the consumer and built Anand mentions, “We use The market is starved of affordable offerings.” the kids fashion category in machine learning data models the country,” admits Anand. to help identify emerging When other brands are taking fashion trends. Our vendor FACTSHEET the omnichannel route even network can supply us in • No. of after starting digital first – 2-3 weeks. This intelligent employees: 300 Hopscotch remains 100% and highly responsive supply • Amount of external digital-focused. That said, chain ensures we buy the funding received there are resellers who take right inventory. As we have ~Rs.450cr advantage of the value we minimal markdowns and • Current Turnover: offer, source through our inventory liquidation, we can 500cr online store, and distribute offer sharp price points to the • No. of SKUs: offline. consumer.” 40,000 A typical fashion brand Moms make 90% of has big teams of buyers, purchasing decisions when designers, and factory it comes to their kids. While sourcing specialists who keeping the engagement high, operate on 3-6 month-long Hopscotch has successfully development cycles. By the served over a 3.5million time items enter stores, the customers. Adding to this

By cutting out the middleman and going direct to the consumer, we offered unparalleled value to the consumer and built the kids fashion category in the country.” Rahul Anand, Founder, Hopscotch

38 l ENTREPRENEUR l MMAYAY 2021 ELLEMENTRY The homeware innovator

n analyzing his family's exports business while pursuing a data analytics program at UCL (University College of London), Ayush Baid saw an untapped opportunity for elevated kitchenware and dinnerware in the Indian market. “The existing, largely unorganized market paid little attention to design and food safety leaving a gap that could be filled with branded, handcrafted products centered on sustainable design, product multifunctionality and aesthetics,” mentions the founder of Ellementry. The availability of his family business' extensive manufacturing facilities, his data FACTSHEET analytical skills and knowledge of changing • Team size: 80 consumer spending trends • Turnover: online ensured the growth Ellementry of Ellementry. “That is how earned revenue I thought of Ellementry of INR 24Cr in the last in 2018. Today with an financial year. e-commerce website, eight retail stores, various SIS locations and numerous boutique stores, we reach our many loving customers and 1.57 lakh Instagram followers,” adds Baid. With this Ellementry is providing full-time employment to more than 4000 artisans. The beauty of their hands, combined with the knowledge passed down from the ages, makes the products soulful. “We can go from concept to end product in a span of a fortnight. Through our in-house manufacturing facilities, we can not only control our products' quality e-commerce channels, respectively.” and standards, but we directly pass on “We are also inking a They capitalized on this opportunity with the cost benefits to our customers,” focused product offerings, social media states Baid. Ellementry encourages basic solid presence in the outreach and customer engagement. sustainable living in people, promoting Middle East, Southeast Through its e-commerce site, handmade products made of earth- Ellementry is entering the US markets friendly products while reviving cultural Asia, and Europe through online presence on Amazon roots with a modern silhouette and markets. Due to our and tie-ups with boutique stores. adhering to international food safety Sharing more on this, Baid says, “We standards. clean and functional are also inking a solid presence in The lockdown saw increased consumer the Middle East, Southeast Asia, and focus on home and home-cooking designs, we are also Europe markets. Due to our clean and plus increased online spending, and getting many inquiries functional designs, we are also getting Ellementry was uniquely positioned many inquiries from the Scandinavian at the intersection of these elements. from the Scandinavian countries.” Another goal for 2021 is to Talking about the split between offline countries.” make Ellementry, one-stop solution for and online sales, Baid says, “There is Ayush Baid, Founder, Ellementry all your home improvement. a 40:60 split in our offline sales and

MAYMAY 2021 l ENTREPRENEUR l 39 PLUM The Vegan Halo

he company has better placed and more open so as to understand the addition, etc. People have seen an evolution to answer the questions merits and the demerits of started understanding the take place in the that are being asked by using a particular ingredient. fact that not everything in a Health and Beauty the consumers and the A decade ago, the whole shiny bottle is good for them. Segment. The evolution of last factor is a more aware scenario was different Instead, they have started this segment has been called customer. The customers because the big brands used turning the bottle and as a sudden emergence but are aware of the harmful their status and the fact that looking at the ingredients according to Shankar Prasad, products and with the help of their product worked broadly that are being used in a CEO of Plum. Plum is said Google and the Internet, they was an incentive. People are certain product. to be one of the few early can search what ingredients isolating ingredients rather The mixing and matching evolution of the category are harmful and in what way. than use a mixture of many. of products has Shankar and some of the factors Hence, they do not need to “This evolution started 7 convinced that the Indian underlining these evolution be told what is good for them years ago when we were in market has more headroom were highlighted by Shankar and what isn’t. the early process of this and for growth than its Western himself. According to “India is problem solution it is still ongoing and will Counterparts. He believes Shankar, Distribution was market”, says Shankar. continue to be there for at that people have been mixing one huge advantage that Earlier, the problem solving least 2-3 years,” adds Prasad. products from quite a long lasted for decades with the was different. The only thing According to Shankar, time and people would have incumbent but now since that has changed is the how there is a danger in being 3-8 different brand products the distribution barrier of it. In the contemporary half-scientific about things. in their closet. Even though has shattered, not in a very times, the brands have The science of the product the companies assure their grand, Berlin-wall kind of a started talking about starts from what ingredients consumers regarding the way; new brands have been ingredients and consumers are being used, what is the ingredients they use or the continuously flooding the are drawing the inference in source of those ingredients, formulation, yet they should market. The digital media their minds by using Google are there any impurities in be more cautious while has been one more factor as the ingredient, what other making the products so as people have been engaging FACTSHEET ingredients are being added to avoid harmful chemical more with the brands on • Founded in 2013 to the formulation, how reactions on the skin of a their social media accounts • 100% vegan & cruelty-free is the formulation made, consumer. and the brands are now products what is the sequence of

This evolution started 7 years ago when we were in the early process of this and it is still ongoing and will continue to be there for at least 2-3 years.” Shankar Prasad, Founder, Pureplay Skin Sciences - Plum, Phy and BodyLovin’

40 l ENTREPRENEUR l MMAYAY 2021 We didn’t have any disruption due to covid in operations and the challenge was meeting increased demand due to supply issues.” Puru Gupta, CEO, Co-Founder & Sreejith Moolayil, COO, Co-Founder, True Elements

TRUE ELEMENTS Staying true to Food

he story of True thought leaders, and food ranges from "nashta" to of Pune. Elements stems scientists – people who could "tiffin" (depending upon This financial year, True from the personal work on products, technology, which part of the world you Elements will be entering tragedies and is sourcing, and instituting are in), we aim to be India's few new categories with a related to lifestyle health method-driven processes that Most trusted Whole-food lot of innovative products. issues faced by both the could bring consistency to plant-based Nashta brand,” In terms of channel, they are founders. In a span of three our production line. But that shares the duo. In terms chasing a 10000 store offline years, while Puru lost his was only one part of the story, of sales, 70% is currently reach beyond going deeper in father, Sreejith lost his the other was finding farmers through E-commerce and current eCommerce channels. father-in-law due to lifestyle- growing or willing to grow 30% is through offline. Talking about the business related issues. That drove ingredients that were part With the recent round of changes during Covid, the the duo to think about of our home-grown list. We funding they aim to create founders say, “We didn't have food and health in India. rooted for ingredients such as more awareness about the any disruption due to covid in For close to six years, they jowar, ragi and bajra and, of brand and visibility. With operations and the challenge spent every waking hour course, seeds like sunflower the objective of bringing was meeting increased thinking about a brand that and chia that were native to transparency and clean demand due to supply issues. was 100% dedicated to the Maharashtra, as our sourcing process, currently, they We launched industry-first cause. “It took us no less area was confined within the process 100% of products at food traceability during than five years and a solid state limits,” recalls Moolayil. their own facility based out covid to build trust amongst background of working with The only ingredient that consumers for packaged not one but two fitness they got from outside India food. We also launched few FACTSHEET brands to bring together a was oats given the branding products with immunity in team of nutritionists, food needs. • Clocking 70Cr ARR mind during this time.” technologists, industry “By providing food that • The team strength is 200+

MAYMAY 2021 l ENTREPRENEUR l 41 PEE SAFE The man who made it easy to clean up and sit

ith the first says, “While driving from Infection while on the trip sanitizer to assist people product Toilet Gurgaon to Gujrat with (UTI). To me and Srijana, in having a germ-free/UTI- Seat Sanitizer, my wife Srijana, we came it was obvious that a toilet free toilet experience, and Vikas Bagaria up with the idea for the seat sanitizer was important our popularity has only wanted to make sure that no first product, a toilet seat in combating these deadly grown since then. It was, woman has to suffer from the sanitizer. Srijana contracted infections. That is where in my opinion, the right fatal disease of UTI and other a potentially fatal infection the first product, Toilet Seat identification of a need at the toilet infections, and as he known as a Urinary Tract Sanitizer, and the company right time.” was adamant about starting name ‘Pee Safe’ were born.” In the last year, Pee Safe it himself; he also wanted FACTSHEET Currently, the retail has significantly broadened to ensure that he took • Best performing online sales split between offline and its horizon. From opening responsibility for reaching channel – our website online sales is 50-50, and its first retail store in India out to the masses and making • Best social media app for the e-commerce section to having their personal a difference. This what led to marketing – Instagram includes their own website, hygiene products present the start of the D2C journey • Best selling products – Menstrual which generates a significant in approximately 15 other of PeeSafe. Cups, Toilet Seat Sanitizer, Intimate number of orders across the countries, they have been Talking about his wash and wipes country. focusing on more ways to entrepreneurial start, Vikas • No. of employees - 150 When asked about getting reach as many people as Bagaria, Founder, Pee Safe • No. of products–40+ the initial product right, possible with a sense of Bagaria says, being unique and innovative “In 2013, we through the products they launched our first curate and through social product -Toilet media presence. Going Seat Sanitizer. forward, Bagaria’s plan is to Technically, expand Pee Safe’s current we continue to reach to approximately look for ways to 10,000 stores, primarily in improve personal Modern Trade across Metro hygiene in order and Tier II cities in India. He to provide the wants Raho Safe’s presence public with a to be expanded to 50,000 healthy lifestyle. stores, mostly in general We were the merchandise, across Tier III first to develop and beyond in a few states. a toilet seat

“While driving from Gurgaon to Gujrat with my wife Srijana, we came up with the idea for the first product, a toilet seat sanitizer.” Vikas Bagaria, Founder, Pee Safe

42 l ENTREPRENEUR l MAY 2021 YOGABAR ith the fitness market booming and new brands popping up with an array of products, YogaBar stands true to its ideals The Superfood of giving a “Healthy Snack”. While the focus on D2C has primarily happened because of the pandemic owing to the consumption shifted online, the Specialist nature of product for YogaBar has always remained more or less like healthy products like oats or peanut butter. Conveying the same, Suhasini Sampath, Co-Founder, YogaBar says, “The focus was primarily like an FMCG company. With the D2C focus we were at 10% for online sales but now that ratio is significantly greater.” When YogaBar started its journey six years ago the “We’ve seen a lot of benefit of being founders used to go to retailers and ask them to stock their products. Fast forward five years from then, very early in that game because till date healthy food is probably the fastest growing category we don’t even have a marketing team amongst all marked categories in health. Being an early but we’ve been able to grow fairly large mover in the niche, they were the only player who had the cleanest ingredients, being a nutrition label. and all of our new product introduction “We’ve seen a lot of benefit of being very early in that come under mainstream categories.” game because till date we don’t even have a marketing Suhasini Sampath & Anindita Sampath, Co-Founders, YogaBar team but we’ve been able to grow fairly large and all of our new product introduction come under mainstream categories,” shares Sampath. “Earlier, we couldn’t have imagined taking on Kellogg’s but we are now, equally or more popular than them today,” she adds. Sampath got welcoming support from the retail industry. Talking about the encouragement she got as a woman entrepreneur, Sampath says, “You wouldn’t believe like the really big retailers including Godrej Nature’s Basket, a lot of buyers gave us a lot of support and that is how we started and I actually think being a woman entrepreneur has played to our advantage because then people are more ready to help.” FACTSHEET It was a natural pivot given the fact a •The individual lot of offline retailers weren’t able to bars sell more sell and online retailers upped their offline game and started reaching customers •200 people crew really quickly during the pandemic. •argeting 100 “The change was driven by what was crore revenue in a happening in the economy naturally,” couple of months admits Sampath. They started selling a lot on Flipkart, Amazon, BigBasket and alongside built their own website. Currently YogaBar sells its products 60% offline and 40% online. When asked if this split is going to reverse in the future Sampath mentions, “I feel until the next year the ratios are going to remain like this, post that it remains to be seen what happens with things settling down with Covid.” For Yogabar, the offline model is an extremely profitable model. It is extremely easy to sort an offline business. You also understand repeat. It is easy for customers to see the brand. Online is very expensive but online you can reach your competitor’s customers by targeting right. When asked about the comparison Sampath says, “India being a traditional economy in which FMCG businesses are being largely driven by offline, I would say that is a trend that is here to stay for years. I think at least 80% will still be driven by offline.”

MAYMAY 2021 l ENTREPRENEUR l 43 Startup EVENT Where is Indian StartUp Sector Heading? Pandemic has been rough on all of us but one community in particular – India’s Startup businesses, bore the severe impact of it. Most startups had to shut shop owing to the lack of digital infrastructure and working capital. But some rose to the occasion and came out stronger than ever, setting benchmarks and optimizing opportunities that paved their way. The Startup Summit 2021 aimed to connects startups & innovators that build great companies, inspire creative thinking and create change in communities across the country. The virtual event took place on March 19, 2021 to celebrate the achievements of start-ups.

Developed In India, For the World: How Far Have We Come & the Path Ahead

n unprecedent rise boarded with us, have seen a If the start-up ecosystem is we have more capital. Public in early-stage deals 20% rise in revenues.” ready for venture debt Vs markets are at their all-time Ashows that Indian “We see a lot of new equity, or both high and so money is going start-ups have what it takes companies explore India for Both go hand in hand, equity more easily. So I think this to make for the world, says the first time. We see that it is needed to raise debt “So decade could be what we all Vaibhav Domkundwar, CEO, is a decade-long trend that unless you have a business have been waiting for.” Better Capital. Ashish Sharma, is starting today where a lot which is profitable from day MD & CEO, Innoven Capital of new supply-creation will one, chances are, you need to The prospects for India, confirms the availability happen. And the suppliers raise equity, to attract debt. Indian start-ups of capital. How far have we that adopt technology will It's never, one versus the other, Immense potential waiting come, and how much more to lead.” Says Kamath, “We've both of them go hand in hand. to be explored Says Sharma, traverse, share panelists, Amrit been considering overseas We are seeing a few cases “India can become a Acharya, CEO & Co-founder, foray for really long. Some of where companies are taking powerhouse of software in Zetwerk; Nikhil Kamath Co- what has happened around venture debt as a part of their 10 years.” Adds Acharya, Founder & CIO, Zerodha & the Gift City, Gujarat has overall acquisition finance “Manufacturing will move to True Beacon with Ritu Marya, made it slightly simpler for package. Most founders are Indiain a decade and SMEs Editor-in-Chief, Entrepreneur incumbent businesses to sort starting to look at venture that grow faster will be the India and APAC. of cater to a foreign audience. debt, in addition to equity, ones adapting technology.” I would not be able to put a which will remain the primary With the right talent and great The way forward for certain timeline on it, but the source of capital,” informs teams, Indian start-ups are MSMEs; Are they ready intention is to do that at some Sharma. Adds Domkundwar, ready for take-off agreed the for global foray? point of time.” “So I think the stage is set and panellists in unison. Opportunities available here, like Ashish mentioned I think some are still mulling overseas foray Says Acharya, “So the role that Zetwerk plays is, how can we offer large volumes and the flexibility of a large supplier by working with lots of small suppliers.Our solution helps buyers digitally visit suppliers and select them, inspect their factory, check how good the supply is and help with remote project LtoR: Vaibhav Domkundwar, CEO, Better Capital. Ashish Sharma, MD & CEO, Innoven Capital India, confirms management.” the availability of capital. How far have we come, and how much more to traverse, share panelists, Amrit “The smaller SMEs on Acharya, CEO & Co-founder, Zetwerk; Nikhil Kamath Co-Founder & CIO, Zerodha & True Beacon

44 l ENTREPRENEUR l MAY 2021 Customers First or Revenue First: Let’s Talk Unit Economics

nsuring profitable in-Chief, Entrepreneur India journey. Then we said we have love us. And we leverage the store economics and and APAC, at the Start-Up to build products in India power of our fans and the Ehonest pricing Xiaomi, Awards 2021. and for India. And then we power of our products.” the third largest smartphone started manufacturing initially “Third, we have an maker in the world, the largest How today’s start-ups with Foxconn and then Flex. incredible team and consumer IoT platform and should look at some Recently, we also announced interestingly, a majority of one of the most innovative strategies to understand two new manufacturing plants the leaders are not from companies in the world is the Bharat and India together with our partners, BYD and smartphone backgrounds.” only company making not for growth DBG. Two years ago, we also more than 5% profit margin. Localisation, leveraging started manufacturing TVs When expanding offline, is As for its India business, it is customers and an amazing in India, with our partner it the customer first, or the the No.1 company with almost team make great business Dixon. A significant number of profit, the store economics zero spending on marketing. Says Jain from his own components are either locally or the channel partner first Manu Kumar Jain, Global experience, “So first is, how sourced, locally procured or or a group first VP and MD, Xiaomi India, we built products in India, locally assembled.” shares the business strategies for India and our focus on “The second is, we market Picking fans of their brand of his hugely successful India Make in India. About five through our fans who are our and supporting them with story with Ritu Marya, Editor- years ago, we started our consumers, people who really setting up shop Learning from McDonald’s franchise model, Jain says, “We go to MI fans and ask them, if they are interested to open up a shop or wanting to become an entrepreneur and we support them with infrastructure, advertising, laptop and an internet “We go to MI fans connection. Of course, a and ask them, if partner also needs to bring in they are interested some bare minimum capital to open up a shop or from his side. The key thing wanting to become is, every store ideally should an entrepreneur and be profitable. Even if we we support them are making money, but the with infrastructure, stores are not, eventually this advertising, laptop business will not succeed. So and an internet you need to ensure that by and connection.” large, every single store should Manu Kumar Jain, Global VP be profitable and be generating and MD, Xiaomi India a positive ROI for our partner. Usually we have seen that more than 95% of our stores become profitable, make positive ROI within three months and 5% stores which take a little bit longer. But as long as majority of stores are making money very quickly for our partners, it is a win-win. When partner will be happy, we will be happy.” Consistently offering quality products with innovative advertising and profitable store economics makes Xiaomi a leading brand.

MAY 2021 l ENTREPRENEUR l 45 Startup EVENT

Towards a Matured Eco-system: Start-ups & the Government

espite various has a baggage of its own the uncertainty makes Voicing his opinion, support schemes, experiences. Says Talwar, decision makers fearful. Talwar says, “If they're Dfund allocations “The sentiment has been in Shah says, “Hopefully the going to say and do and tax benefits for the right place and we are communication is improving something, make it as open Indian start-ups by the very much at the beginning over time, but there's so door as possible or don't do Government of India, there of the first inning. But, I much uncertainty. The it. Make it completely easy. is considerable discontent feel like there's a lot of government needs to assure You don't have to follow among stakeholders. Braving baggage that comes along that this is what every any guidelines from foreign various archaic government with the government putting state has agreed for the countries, just make it regulations and other red any scheme in place.” next 10 years and we will incrementally easier.” tapism, start-ups have Corroborates Shah, “The not change.” Ramani adds, “We are still learning how shown their resilience and government does a good “Funding still continues to to invest from others. We continue to lead the growth job of making the noise be very patchy.” “Second, have to imbibe learnings and story. At Start-Up 2021, about start-up schemes. the government has a long reconstruct it for ourselves. Sid Talwar, Co- founder But in the process of trying way to before opening the We then have to share it and Partner, Lightbox. Amit to ensure that no one is debt structures, without with the government; the Ramani, Co-founder & trying to take an undue which, many companies will government is doing many CEO, My Awfis and Jinesh advantage, it creates a web, not be able to scale up.” different things, we're Shah, Managing Partner, makes controls and not “Lastly, we are still a doing one thing, and that Omnivore share their views really gives a start-up or the lifetime away from the Ease takes time in India. We on how start-ups and the private sector the freedom of Doing Business. Starting understand it's going to take government can move to operate with some a co-working space requires time.” towards a mature eco- flexibility.” 26 licenses. Then there is Assures Shah, system. taxation.” “Everyone's trying their On any particular pain level best to get the On if the government has points from a start-up or On building a mature bureaucracies to move done enough? investors’ PoV eco-system farther. The country will The panelists concur that Communication lapses A healthy give-and-take keep moving forward no the government’s sentiment and misinterpretation of between the parties will matter what happens.” is very much genuine, and information, complicated be required, besides giving a start has been made. tax laws, apathy of time to the government The government probably assessing officers and machinery.

LtoR: Sid Talwar, Co- founder and Partner, Lightbox. Amit Ramani, Co-founder & CEO, My Awfis and Jinesh Shah, Managing Partner, Omnivore

46 l ENTREPRENEUR l MAY 2021 LtoR: Padmaja Ruparel, Co-founder, India Angel Network & Founding Partner, IAN Fund and Dr. Venkatesh Panchapagesan, Associate Prof. of Finance, Chairperson, NSERCEL, IIMB

The Changing Paradigm of Entrepreneurship

he pandemic threw entrepreneur, because MBA they were very clear, they curveballs at start- is expensive. Many of them Was this been an wanted to do the journey.” Tups. Most survived jump into entrepreneurship opportunity loss or gain for “The immediate pivot by tweaking and leveraging 4-5 years after gaining emerging founders in the was all around Covid- models. With so much industry experience and have start-up last year related solutions. Once happening, it is interesting paid off the debt.” From a mix of companies, the that stabilised, they began to know how individuals “As for entrepreneurs, ones that made it, leveraged looking at it differently. look at entrepreneurship. At everybody's thrived. The the pandemic situation. The sentiment was, life has the Start-Up 2021 Awards, Covid-19 was an opportunity Says Ruparel, “We saw thrown a lemon so make a Punita Sabharwal Kapoor, and many entrepreneurs three types of businesses last lemonade.” Deputy Editor, Entrepreneur thrive on taking problems.” year. One, which could not “As individuals India interviews Padmaja “Initially, due to the walk through the pandemic transitioned to a virtual Ruparel, Co-founder, India uncertainty in the pandemic, and we had to handhold them way of life, more women Angel Network & Founding we kept them engaged by out of their business. Second, applied to a women start- Partner, IAN Fund and Dr. trying to make them work those who could stand up programme. This is a Venkatesh Panchapagesan, on the right things and through it, but struggled and significant advantage that Associate Prof. of Finance, taking care of their mental needed a lot of hand-holding. Covid-19 threw at us.” Chairperson, NSERCEL, well-being. We got in our Third, were the ones who Adds Ruparel, “We have IIMB to understand alumni who had previously leveraged the pandemic and many corporates reaching entrepreneurship in 2020. experienced crises to share the lockdown, the fact that out saying, we need to their experiences.” technology infrastructure innovate, need to improve How the entrepreneurial “After about 4-5 would become the highway of our technology. Please tell us landscape has evolved and months, some of our connecting the country.” who we should work within changed for students and ventures looked at different the start-up ecosystem. future entrepreneurs businesses altogether. But On the kind of pivots and Because, anything that has Most businesses survived predominantly, many of them pedigree of entrepreneurs technology at the centre by tweaking their business had to tweak a little bit of at the incubator of it is interesting now.” models. Says Panchapagesan, their current business model, Entrepreneurs were sure Academic enrolments “Broadly, the effect on and they survived. Part of it they wanted to continue the to entrepreneurship students has not been any was the wisdom passed on by journey. Says Panchapagesan, programmes and funding different. Very few within the alumni, etc. to keep the “It is about the mindset happened, albeit slowly, but IIMB reach out to become an focus on the customer.” of the entrepreneur. So stop it didn’t.

MAY 2021 l ENTREPRENEUR l 47 Growth KISSFLOW Why the best defense is a good offense Suresh Sambandam, CEO - Kissflow

It was near the middle of March 2020. The clouds of a global pandemic were just beginning to loom large over the global economy. Entire industries came to a screeching halt as lockdowns went into place all over the world. All the positivity the year began with descended into businesses shutting down and abject fear stampeding through markets around the world.

As the CEO of a global is what they need -- An eye startup, my first thought for possibilities and an ear was, “Will we be able to for opportunities. I never survive this?” imagined I’d be on the user I looked across the room at end of that quote someday. my colleagues. Predictably, Kissflow grew to nearly 300 this seemed to be the thought employees over the course of on everyone’s minds. Over the last year. And, we went the next couple of weeks, on to do more exciting things boardrooms across the world like expanding our partner went into panic mode. Jobs sales team from 4 to nearly were axed and vast swathes 40 members just as we were of employees were let go. closing in on kick starting our The world as we knew it had GSI partner program with a ended. Well, almost. full-fledged team. We hired In a shrinking corner of the senior people for key roles locked down world, here I was, to expand the company’s grappling with these same taken, but it won’t be the and let people go, try as I presence in regions outside issues. Leading a mid-sized first, and it certainly won’t might, I could not imagine India company through this difficult be the last. If we expect to that as a way forward. In the process of taking time and having these exact endure this at all, we can’t do Business was about to go the pandemic head-on, at conversations with my people. what everyone else is doing. up and I was betting on it Kissflow, we have managed But there was one difference. Because, clearly the others happening. As CEO, one of to accomplish something far aren’t playing the long game. my most important standing greater than we set out to do. We fought every instinct to We make products that help instructions was there would We have not just survived, remind ourselves that we businesses move their work to be no job cuts. In fact, I asked we have thrived. We are now were different- we have a the digital space. This isn’t a human resources to do the a far more agile and strategic willingness to experiment problem. In fact, it might just exact opposite. At Kissflow, organization with a formidable and a voracious risk appetite be our biggest opportunity we ended up hiring more business unit structure at that has served us well yet.” people during the pandemic its core. And we managed to through the years. from the vast pool of talent accomplish all of this during So, we did what most would At Kissflow, we believe coming off organizations that one of the world’s worst have thought unthinkable. our people are our biggest had let them go, to carry out crises. It took a leap of faith. We made a call and it turned asset. We decided to stand our ambitious expansion plans But that is a feat I will always out to be the best one we’ve by them and weather this over the next few years. be proud of. ever made. ”At Kissflow, we’re storm. 2021 seems to be an taking this storm head-on, While the instinctive reflex of When all the chips are down, exciting year at Kissflow. We and we will win. This might companies across the world and the future looks bleak, I have not only managed to be the biggest risk we’ve ever was to cut down on costs always tell people that this grow exponentially within

48 l ENTREPRENEUR l MAY 2021 our existing markets across things. As always, I turned how you’re perceived. uncovered with lateral the US, Europe, Africa and to imagination to solve this Now, the only thing left was thinking. It is our core belief South Asia, but we have problem. to take our flagship product, that the easiest way to solve a also made deep inroads into After a few discussions Kissflow Digital Workplace problem is to uncomplicate it. an as yet untapped market with the leadership team, and tell the world about it. Over the course of these for SaaS products geared at BU heads and employees, we Here’s how we created an films, the child embodies the digital transformations. By arrived at a groundbreaking unconventional, powerful brand promise of Kissflow establishing our first offices in new work model that we called and creative campaign for Digital Workplace - The Power Dubai, UAE and appointing a Remote+. This new hybrid a product we have put our of Simple. You can watch the brand new sales team to lead work model was aimed at hearts and souls into making first film in our series here. our charge in this market, we enabling employees to enjoy it. In a sea of SaaS companies have marked our presence the benefits of both remote vying with each other to We were never meant to be and our willingness to provide work and co-located, in- inundate the user mind space where we are. We always products, skilled resources and office work. We encouraged with increasingly complex consider our present as a leading digital transformations people from out of town to go technical terms, features and stepping stone to the future. in this exciting space. back to their homes and we service offerings in a bid to So, with growing business and With our presence in the all decided we would work aggressively position their a widening global customer Middle East being led by a from the office once a week, products, at Kissflow, we base, a brand new office was senior sales leader with vast in rotating schedules. The decided to go the way only we our next logical step. So, experience working with company agreed to provide know how to. We kept it smart again, we turned convention global brands, we have a solid accommodation for those who and simple! on its head. As organizations presence and a customer base travel into the city during the Shot in the Balkans, worldwide were winding that is expanding with every one week of in-office work. drawing on the purest form down their physical presence, passing day. We are currently of simple, childlike awe and giving up large office spaces, looking at a bright future What does a global creativity, we created a series you could almost count on within this market as we move pandemic do to innovation? of three films that lead viewers us to go the other way. When to consolidate our presence, Do we stop launch plans for into the simple, uncomplicated you’re building the future of test the markets, seek new new products and put them world of a child solving digital work, you obviously alliances and bring the power on the backburner? everyday problems. These need the best in technology of Kissflow’s products to No, we went ahead with films depict a simple approach and office spaces the world has customers in the middle east. them. We developed and to problems that can be to offer. That’s why we made launched a range of the next big move. The brand Does working remotely cutting-edge SaaS new offices of Kissflow Inc. are come naturally to a startup products through located at World Trade Center that built one of the world’s the pandemic, each in Chennai, India. Within this best digital workplace of them catering to “When you’re gleaming grade A++, brand- platforms? a specific pain point new commercial development, One might think we’d have or function or use building the is all the technology, scale, the remote work part sorted. case in the industry. resources and efficiency we As it turns out, using the future of need to chart our path well platform and keeping it Half the game of into the future. running are two very different progress is about digital work, Most of the credit for our success goes to the people- you obviously centric culture we have built need the best in over the years. We could have taken the easier route any day, technology and but we believe in our hearts that our people are our most office spaces valuable resource. We have always had their backs and in the world has to turn our people have helped us get to where we are today. offer.” You can have all the technology, skills, assets, resources and will to succeed. But when the chips are down and all you have to go on is hope, the people who will be courageous enough to walk with you on that journey are all that matters.

MAY 2021 l ENTREPRENEUR l 49 Growth JOURNEY Taking a Break At 40, This Entrepreneur Went On To Produce First Unicorn In Spa & Salon Space Sudheer By Debarghya Sil Koneru co-founder and chief At present, Zenoti powers executive officer of more than 12,000 businesses Zenoti in 50 countries ranging from the largest enterprise level brands such as Toni&Guy and CorePower Yoga to small, single-center businesses

wo decades wellness industry were still ago, if anyone staring at platforms which would have could support the entire told you that ecosystem under one roof, to get a haircut thus streamline the process Tyou have to fix an and helping the brands grow appointment through a and acquire more customers. software, you would have This is what led to the scoffed. However, come start of Zenoti, a customer 2021, most of the things relationship management- are happening over the solution provider for salons Internet now. In fact if you in 2010. The Bellevue- are not on the Internet and Hyderabad-based and using tailored cut software-as-a-service software for the industry, (SaaS) startup also is one you are inadvertently losing of the newest entrants in millions of dollars! Ten the prestigious Unicorn years back, the Internet club. In an interaction has already spread its with Entrepreneur India, wings. From improving Sudheer Koneru, co-founder social life to acquiring more and chief executive officer customers for business was of Zenoti, shared the story happening over the Internet. of Zenoti, its early days and However, niche markets what made it raise funds such as the salon and spa almost after a decade.

50 l ENTREPRENEUR l MAY 2021 Technology calling felt firsthand the complexity Becoming an Unicorn will invest further: and challenges of running a Inventory management: Prior to co-founding Zenoti, In December last year, Zenoti business. There was not one The startup is investing Koneru had a long eight announced raising of $160 software available that could in algorithms. Zenoti’s year stint at Microsoft as a million in its Series D round do everything we needed. automation tools help product unit manager. He from existing investors The industry lacked reliable customers order the right left Microsoft only to take an Tiger Global and Steadview and easy to use software products in the right quantity entrepreneurial plunge and Partners. This capital that supported the whole to achieve maximum sales and founded two startups in the infusion catapulted the ecosystem of operational minimum cost. US. He exited his last startup, startup’s valuation crossed tasks that need to be done Scheduling: SmartShifts SumTotal, an enterprise over $1 billion and joined when running a spa and salon, takes the guesswork out software company, when the likes of other software especially the needs of a of scheduling. It looks at the company was clocking a product companies of Indian multi-location chain,” Koneru predictive slots per week, revenue of $100 million in origin such as Druva, Zoho, added. analyzes services and 2007. He was 40 then. Postman, Freshworks and Realizing the issue, Koneru customer preferences, After hanging his boots, Icertis. along with his team went back identifies the right providers his soul focused to take care Interestingly the startup to their roots in enterprise and generates the optimal of himself, which led him to has till date raised $250 software and founded Zenoti. schedule. Zenoti’s system participate in multiple yoga million, and of which nearly Koneru takes pride in uses predictive analytics to and wellness workshops. $200 million has been raised saying Zenoti strives to give help assign the right people After spending time in these since mid of 2019. business owners more time to the right shifts at the right workshops and getting to When asked about this to focus on their craft and time, thus saving businesses know about the industry, stream of capital infusion, make their businesses great, Koneru eventually launched instead of doing the mundane a chain of health clubs, spas and tedious jobs that Zenoti’s and salons in the US called software can do. Latitudes. However, after Zenoti’s business Zenoti now supports an two years of them being array of wellness businesses model is working operational, Kuderu realized starting from salons to it was arduous to run multi barbershops, skin clinics, well, and we have strong spa and salon chains together massage centres, waxing, as the industry lacked an weight loss, and more acceptance across all all-in-one platform that recently, fitness. Zenoti could help to manage all the initially approached the large verticals. The time has stores smoothly along with businesses with enterprise establishing a better relation customers with multiple been right to raise funding with customers. locations. Koneru believed, It is said, a trademark though the approach was and invest in growing the of a good entrepreneur is if challenging to begin with, he sees a problem, he will business.” it would bear fruitful roll up the sleeves and fix it. results in the long run. The Koneru said, “Zenoti’s on labor costs while Koneru too did the same. He startup enables some of its business model is working accommodating all customer along with brother Dheeraj largest customers with over well, and we have strong service requests. Zenoti helps formulated Zenoti in 2010. 300 locations to enhance acceptance across all find the sweet spot, which As Koneru likes to say, “I their customer experience, verticals. The time has automatically calculates did not realize that my time unify their brand and grow been right to raise funding staffing needs. working in the spa and salon exponentially. At present, and invest in growing the Zenoti’s core booking world would connect me back Zenoti powers more than business.” system affords built-in to technology and serve as 12,000 businesses in 50 The latest funding will flexibility to custom-tailor the impetus for Zenoti.” After countries ranging from be used to scale its business appointment durations based it entered the prestigious the largest enterprise level across European and South on the provider’s expertise Unicorn club, the startup brands such as Toni&Guy American markets while and/or customer preferences. became the first salon and spa and CorePower Yoga to small, doubling its employee count When multiple services are to reach a valuation above $1 single-center businesses. The to 900 by 2022. The startup booked, Zenoti solution billion. US market makes up for 60 will also invest in R&D automatically schedules per cent for Zenoti, followed to enhance its customer services in the proper order Spotting the issue by the UK which contributes experience with better and optimizes duration. The While Koneru was investing almost 20 per cent. In India, inventory management, default rebooking system in Latitudes, he learnt the Lakme is one of its prominent customer scheduling and also automatically knows necessity in the spa and clients. others. As per Koneru, the correct cadence for salon space for an all-in- here are some of the key every treatment, eliminating one solution. “When we innovations in which Zenoti rebooking errors. started a chain of spas, we

MAY 2021 l ENTREPRENEUR l 51 C D2C a realistic alternative to traditional business D2C has been quite the rage. As an emerging business model, it has garnered quite a large audience and has been a solution to the problem called Covid. D2C has come to the fore largely due to the pandemic and has become bigger than ever with D2C brands competing with established brands. With more and more D2C brands coming into the market, we discuss the future of the D2C brands. Pankaj Makkar, Managing Director, Bertelsmann India Investments in conversation with Ritu Marya, Editor-in-chief, Entrepreneur APAC and India shares why D2C startups are finding strong footholds within local markets in India- as a result of rapid digitization.

As we’ve seen, the D2C industry has been growing by leaps and bounds and particularly the Pandemic has come out well in the help of D2C industry, our objective is to understand, what are the opportunities that you see as an investor in the D2C sector? Where do you see the sector emerging and what categories within D2C you see growing bigger and larger? As an investor, I am genuinely excited for the D2C sector and to get the nomenclature right, the definition of D2C is any brand, product or service which is going directly to the consumer whether it is going through aggregators or online portals such as Amazon, Swiggy, Zomato or Flipkart. Within the D2C sphere, there The are large established brands which were Makers otherwise offline, they tested waters with The Builders online by going into e-commerce with O of India’s New aggregators like Amazon and Flipkart CPG and how they feel like the online channel

52 l ENTREPRENEUR l MAY 2021 FIVE MOST PROMISING CATEGORIES WITHIN D2C •Beauty •Personal Care •Shoes •Kids categories •Fashion has become large enough to deliveries and so on, they need, creating very unique traditional way of creating have a direct presence, then will obviously form a fairly personalized experiences for a goal brand still exists. In those brands would of course large chunk of the market, them and cross-sell and up- contrast to the pioneers of the build their own businesses the lower end of the business sell when the business owners business industry who took and sell, then there would be on the other hand might try know customers needs almost a century to build a middle brands. Middle brands to emulate Meesho or all those concepts is a more smart brand in selling their are retailers and wholesalers the players that are being data-driven and scientific own product, a significantly who eventually were also enabled by Shiprocket in alternative which is possible less amount of time may be exporters of sorts and they certain companies would with these D2C brands but needed to establish a business are doing relatively decent eventually also become a may not be possible with the in those categories. business of approximately large business. The second traditional consumer brand. 100-200 Crores and they category is a bit on Do you think the way forward created a web front to sell. the lower end but if for them is an IPO They are well capitalized they can attract 20% or to probably go on players and they are now of the 50 billion to multiple rounds of selling directly. Then, there dollar market, that India’s scenario of e-commerce mainstream funding? is the lower end of business still is a 10 billion today, the market in the coming Entrepreneurs should be like social commerce, dollar market which time will be worth 50-60 billion cognizant and not try to resorting to social media and still gives them 10 have too much funding. dollars but at some point it will influencers-led commerce billion dollars to play They should get the right and home entrepreneurship. with. The numbers become 100-200 billion dollar funding needed to build a Amazon has an extremely make each of those e-commerce market. business. A lot of traditional large dominant share in the segments very consumer companies would U.S.A., they own 50% of the exciting and large be eventual buyers of these retailing market but looking players can exist in $50-60 B businesses, in my opinion. at the balanced retailing each one of them. They would be eventual market that is fundamentally buyers. Any manufacturing owned by a lot of large brands What is it that these brands I think omni-channel is setup, any gross margins are which are running their should be doing? Is it even something all D2C brands higher than what they are in own shops. India’s scenario possible that, you know, are vying for. What do you a market place like Amazon of e-commerce today, the once their critical number think is the purpose for them that operates on a single digit market in the coming time of consumers is reached, to think digital or omni- gross margin. There would will be worth 50-60 billion and after that, to be able to channel today? be private equity buyers and dollars but at some point it do it in the same way as you The companies should not go hence, some private equity will become 100-200 billion started that business as a omni-channel just to follow buyers would also end up as dollar e-commerce market. digital native? How will the buzz to go physical or eventual owners of some of Assuming, the D2C is a 30% that change? even phygitial. There should these businesses. market which I feel there An evolution of brands is be a good strategic reason to will be an increase due to the underway. The traditional go omnichannel. The likes What are the three or bigger number of SMEs in the brands are not directly of Pepperfry and Lenskart four things the budding Indian market, this market connected with the customer went omnichannel because entrepreneurs should be will 30-50 Billion dollars but hence, they are somewhat the customers wanted to doing as a must do it might be fragmented at the operating blindly because touch the product and feel the to get it right? same time. they serve as focus groups, quality of the product. The Suggestions to upcoming they conduct a lot of surveys, omnichannel businesses only Entrepreneurs would be to So when you say 30 to but having the ability to work for some. My suggestion focus on a category which $50 billion markets, are be able to pinpoint their would be if there is no need is large enough but more you looking at all the three customers and hold on to to go omni-channel then do importantly should have categories within the three them is very exciting even not because it would mean 50-60% gross margin. Gross categories that you defined as for all the big established taking the best thing about margin of that sort is needed D2C which will get the lion’s brands of the World. From D2C and destroying it. The to build a successful business share of that $50 billion that perspective, it is very right D2C brands with the so that the entrepreneur market? exciting but on the other hand right capabilities of Digital does not have to worry about Looking at the U.S. or even even traditional consumer Marketing, understanding the funding. Also the use of China to a certain extent, all companies have not build a ethos of the product, building ecosystem enablers is very three categories are extremely business which has a DNA of a good quality product, important because the social interesting. First category owning customers. There is giving it to the customers media will help build massive where large players play, an opportunity of new-Age and building around the amount of reach in a very cost they have the brand and the companies in this play. The customers will have a real effective way. marketing muscle to market ability to own customers , chance to flourish in the their web site and provide understanding what they market. In my opinion, the

MAY 2021 l ENTREPRENEUR l 53 HR PEOPLE Why Are Indian Startups On an

Buyback Spree Benefits of liquidity events like ESOP buybacks are not limited to employees, there is value for companies too

By Shipra Singh

mong the many things employees. ESOPs usually get that kept the Indian allocated at the time of hiring, THE INDIAN STARTUPS startup ecosystem as part of the appraisal or during ESOP SPLURGE in headlines in the reward programs and typically Close to 24 startups have facilitated last one year is ESOP come with a vested period within ESOP buybacks since Jan 2020 buybacks.A Startups across sectors which the employee cannot sell are on a ESOP or employee stock her shares. Once the vesting STARTUP AMOUNT (USD) DATE ownership program buyback period is over, the company Acko 2 mn April 2021 spree at a time when the Covid-19 facilitates a buyback exercise to pandemic has disrupted bottom- enable its employees to liquidate Cashify 1 mn March 2021 lines for some startups while led to their shares and create wealth. Zetwerk* 8 mn March 2021 unprecedented growth for others. A company can buy back the RazorPay 10 mn March 2021 While ESOPs found their way into shares periodically or all at once. Browserstack NA February 2021 compensation packages offered by The benefits of ESOPs are not Wakefit.co 1.9 mn January 2021 new-age tech startups several years limited to just the employees. ago, opportunities for employees For employers, the idea is to give Cred 1.2 mn January 2021 to realise their actual value started employees ownership interest in Unacademy 3.3 - 3.9 mn** December 2020 mushrooming only recently with a company. As the company will Shadowfax 5 mn Dec 2020 companies giving them a chance grow, so will the value of its share Oyo 20 mn Nov 2020 to liquidate their holdings through and this concept of future gains Cars24 4.7 mn Nov 2020 buyback events. The trend was can instill ownership in employees kicked off by e-commerce giant and motivate them to take charge PharmEasy 3 mn Nov 2020 Flipkart in 2018 when the company and work towards building the Meesho 5 mn Nov 2020 announced a 100 per cent buyback company than just fulfill their Swiggy~ 7-9 mn Nov 2020 of vested ESOPs. Since then, close targets. Firstcry 4 mn** Oct 2020 to 23 startups have facilitated “ESOPs align incentives of Zerodha 7.9 - 8.6 mn** Sept 2020 buyback programs, with some founders, investors, and employees having carried multiple rounds. for the long term,” said Amrit MPL 3.2 mn Sept 2020 Of these, maximum buybacks Acharya, CEO and co-founder, Urban Company 5 mn Aug 2020 have happened in the last one Zetwerk, a B2B marketplace for CarDekho 3.5 mn Feb 2020 year since the Covid-19 pandemic manufacturing items. “ESOPs make Zerodha 7.9 - 8.6 mn** Sept 2020 outbreak (see: The Indian Startups the whole proposition of working MPL 3.2 mn Sept 2020

ESOP Splurge). Was the timing with a company far more attractive India research Entrepreneur Source: intentional? Entrepreneur India as it comes with the opportunity Urban Company 5 mn Aug 2020 spoke to startups to find out. to be part of its growth story as its CarDekho 3.5 mn Feb 2020 co-owner and shareholder.” SIGNIFICANCE OF ESOPS Nithin Kamath, founder and *Zetwerk conducted its buyback in three tranches, beginning FOR COMPANIES CEO, Zerodha believes ESOP is December 2019 and concluded in March 2021 Through ESOPs, an employer the best way for employers to **converted from amount in INR as disclosed by the company issues a certain number of shares enable employees to participate ~secondary liquidity option of the company to its qualifying in the growth of the company. The

54 l ENTREPRENEUR l MAY 2021 “Liquidity events like an shares as a reward system sales and buybacks in the at the back of the business’s recent past by some of the ESOP buyback presents growth amidst the Covid-19 marquee startups, such as pandemic is a common reason Unacademy, Cred, Razorpay, a unique opportunity for for many. For instance, Nakul MPL and Shadowfax, will Aggarwal, CTO and co-founder help raise awareness among employees to realise their stock of BrowserStack, said their workers about the monetary options have real value” ESOP buyback in February this value proposition of ESOPs year was a way to reward their in compensation packages. Vidit Aatrey, CEO and co-Founder, Meesho employees through a wealth- This, in turn, could also creation opportunity after the help companies in reducing company posted strong growth employee churn as more discount brokerage firm had an instrument to attract and during the Covid-19 pandemic. employees are likely to stay completed its ESOP buyback retain top talent,” said Abhiraj “It underlines our with the company for longer to in September last year, which Singh Bhal, Co-Founder, Urban commitment to sharing the cash in on their holdings. allowed its current employees Company. growth and success of the “Typically, ESOPs to sell 50 per cent of all vested But, do ESOP grants really company with our employees,” liquidate at the time of IPO stock options and paid out impact talent retention in said Aggarwal, adding that they or an acquisition. An interim about INR 60-65 crore to 700 the current job market where intend to do this regularly as buyback allows employees employees. jumping jobs frequently is their business is profitable and to not have to wait for One reason for startups a common practise among growing well. these milestones and gauge to use ESOPs is to attract tech professionals? While Zerodha is another case in the market value of these talent when giving out high it is definitely an effective point. “2020 was the 10 year instruments tangibly,” said salaries is not an affordable way, work culture is the anniversary of Zerodha and Acharya. Zetwerk started option for them. While most important factor, as per also happened to be a great share buyback with its Series early-stage companies may Kamath. “It is all about culture year in terms of activity and B fundraise in December 2019 use it for employees across fit and building the right growth of the business, said and has done three tranches positions, growth-stage culture and work environment Kamath. worth USD 8.3 million (about companies typically use it that includes learning, growth, Meesho, on the other hand, INR 60.92 crore) spread over for compensating senior ownership of products.” facilitated the buyback to six months. The liquidation leadership and top employees Of the several buybacks compensate their employees process also enabled exits for during hiring as well as for that happened in the last 12 in place of cash appraisal last Zetwerk’s early-stage retention. “We use ESOPs as months, repurchasing the year. The slew of secondary investors.

MAY 2021 l ENTREPRENEUR l 55 Connect

“ENTREPRENEURSHIP B2C oriented with more than 1000+ clientele. The WASN’T MY CHOICE, beauty of this endeavour lies in its majority of BUT IT BECAME AS A implementation being in the time of pandemic CALLING FOR where they developed an ME- ANOOJA BASHIR, ed-tech platform called LIKES, an employability FOUNDER, OUREA ANOOJA BASHIR, application that connected FOUNDER & CEO the employer and employee. OUREA . In the past months of The story of Anooja plethora of experience, recession, Ourea continued Bashir, a civil engineer thus delineated its strategy of transforming turned entrepreneur her brainchild T the talents into skilled has quite a lot of twists and Ourea in 2017, a to its mentees, designed and employees to bridge the pseudo-climaxes. Graduating one-stop consultancy moulded educators, strategists, gap between tremendous as a civil engineer, she has service that catered to all program managers, and opportunity and employee played many important roles corporate requirements. technocrats. The influence, candidates. The idea was to both in India & abroad from Anooja established and experience and inspiration get talents under the verticals interior designer to project organized a strong footing in which Ourea holds thus helped of Marketing and IT, train manager. Even as a former entrepreneurial space with over 100+ brands, both from them in accordance with assistant professor her Ourea – a 360° Business scratch and revolutionizing industrial standards and exposure and conversance Management Consultancy the already existing corporate necessities for two with both academia and which topnotch services in establishments by giving them months with a stipend. This corporate for a tenure of more Branding, Marketing, Digital a facelift. The beauty of this startup created a solution than 10 years helped her in marketing, Web development, endeavour lies in its majority for a long-lost problem of identifying the numerous App development , Business of implementation being in unemployability with an rifts and fractures, existed coaching, Corporate the time of the pandemic. increase in manifold revenue between the adroitness of the mentoring, industrial training Ourea supports and strategizes generation. She also is the co- academia and the dexterity and HR management. branding, communication founder & CMO of FlexiCloud demanded by the corporate. Ourea with its notable and web identity of umpteen which is a Cloud-managed Anooja has with her, a vision and unflinching support organizations both B2B and hosting company.

Access is available •Current IT Cloud Computing and Cloud through a private architecture may be network or the internet. incompatible when Hosting : Basics for Business - •Software as a Service migrating. (SaaS) – The most •Wasted cloud costs. An Introduction prevalent forms of •Intricacies of security revolutionary and programs outside of buying, and paying cloud computing. Here, such as, misconfigured advancement your own computing as per use only. one accesses internet- servers, insider threats, Ain Information environment, thus Some cloud-based hosted, software etc. Technology (IT) has mitigating the need to applications are, applications from a In order to be gained prominence invest in IT infra. Salesforce, Slack and browser as against able to access the in the recent years, Besides having Zoom. traditional applications above, one needs, that is more flexible, relevant and timely stored on computer or Cloud Hosting. Cloud cheaper, efficient and analytics, the need for TYPES OF CLOUD server. hosting are solutions that enables continuity cloud computing has COMPUTING •Platform as a Service to make websites and for businesses. Cloud been underscored than Depending on the (PaaS) – A hybrid applications accessible computing, is the ever before primarily type and need of your of the above two using cloud resources. delivery of computing due to the growing need business, one can models, where one It is a network of services such as, for data protection, choose from any of rents the hardware, connected virtual and servers, database, data modernisation and the following service OS and the S/W physical cloud servers storage, email, file its relative immunity models: servers and application that host the website/ services, networking to force de majeure. A •Infrastructure as a environments. application. Some and software analytics differentiating factor Service (IaaS) – Here, players in this segment through the ‘cloud’, in cloud computing is one rents IT hardware RISKS are, IBM, Microsoft i.e the internet or that, one is renting IT from an external service •Makes companies Azure, Google Cloud virtually. It enables requirements from a provider who also more vulnerable to Platform and AWS. you access to data service provider instead maintains the hardware. cyber-attacks.

56 l ENTREPRENEUR l MAY 2021 MAY 2021 l ENTREPRENEUR l 57 Startup IN CONVERSATION

Convenience is king in these times and digitization has facilitated that to an B2B and B2C extent that no one saw coming. He says the fastest growing companies are the ones that are providing the products Not Comparable; with the easier UIs in a way that is most accessible to their target audience, Execution Matters whether it be B2B or B2C businesses. WHAT DOES “CHANGE” TAKE? From the perspective of the individual, especially young graduates, Bahl thinks that people skills and soft selling capabilities will make or break their entrepreneurial journey. He considers hard skills and logistics needed to “do the job well” something that any sincere learner picks up along the way no matter what. However, he feels that soft skills are something our traditional education systems don’t focus on and that’s The founder of Snapdeal believes that though there inherently one of the most important things in business management. are interlinkages between B2B and B2C, but on a In times of sudden changes, leaders whole there is no ‘better’ business need to be able to inspire their teams to reach their full potential and brave By Shivang Saxena uncharted waters. You can always hire a more technically able worker but to inspire and lead is something that is in short supply these days. And it’s something that’s absolutely crucial to the conomic systems and Over the course of a very enlightening success of a company in these digitized consumerist markets are conversation, Bahl breaks down times and the Wild West that the defined by a flowing state digitization, the companies that will Internet economy is. As for companies and constant change in ‘make’ it, what it means for the Indian as a whole, he says almost everyone has terms of the relationship market and the core ethos that has jumped on the band wagon now and is between the service/ undergone a paradigm shift when trying to go digital. However, he says, the product providers and the users. it comes to viewing startups and E businesses must leave their old business Change is nothing new in the business entrepreneurship in India. philosophies behind if they don’t align world. However, over the past decade with how the e-commerce environment progressively and more so over the past A NEW OUTLOOK works. And a pragmatic understanding of year things have changed drastically in Far from being considered the trade the digital economy is needed as well. the fundamental provider-consumer of college dropouts without aim, relationship and the fiscal dynamic has trying to find needles in haystacks, undergone no less than a revolution of entrepreneurship has gained newfound decentralization. The massive supply respect. The stigma that used to surround HAVING chain and business model disruption that it has largely been broken down. Bahl HOMEGROWN BIG has been inspired, driven and catalyzed considers this to be a mix of the torch- by a decentralized, user first and value bearing successes in the business MARKET PLAYERS focused wave of Small and Mid-cap world lead by youth, more favourable IS ESSENTIAL FOR companies – manly in tech – has been at government policies and a new business the forefront of this change. A lot of these mentality finding footing in India that BOTH INVESTOR companies are driven by an adaptive and isn’t averse to taking some risk. Besides AND BUSINESS open-minded business philosophy and that, Indian business ecosystems have hence they’ve not only made the most started cultivating homegrown capital CONFIDENCE IN proficient use but also pioneered the and as a result, there has been vastly ANY ECONOMIC rapidly evolving technological sector, better investing in tech startups. hence providing implicit solutions to According to him, building a business ENVIRONMENT. social issues along the way. is a lot more than reaching some arbitrary KUNAL BAHL Whom better to learn more about multi-digit company valuation. For him, Founder, Snapdeal the next generation of startups and and admittedly many more especially entrepreneurs from than the CEO and those who do well with the consumer, it co-founder of Snapdeal, Kunal Bahl. is now about providing better products.

58 l ENTREPRENEUR l MAY 2021 E-COM & THE 2020 SLINGSHOT When asked about whether there is that although the company needs to Throughout this pandemic, online more potential in B2B compared with incubate as a private entity for the businesses have shot through the B2C businesses, Bahl said the choice beginning part of its life, after a certain roof. The incentives have always been is similar to being asked to choose stage it is definitely more beneficial to obvious. E-commerce has always had between two of his kids. He says that the enlist on the stock market. This idea the potential, which has recently comparison is not very informative as the is driven by his view that the future of materialized, to reach a much greater business models are inherently different, any economy rests on the large, capital market than conventional avenues. not to mention they exist in two different heavy tech companies with a really good The cost structure of the business parts of the economy and hence the infrastructure all across the board, be it operations is radically different for parameters by which we judge them will in operations, HR or fiscal management. running an online-focused business. not coincide. Both the consumption and Without the presence of local large- It’s also cheaper. Although the trend business economies need tech innovation cap companies leading the way for has been upwards for over two decades, to be efficient. acquisition and implementation of tech digitization and e-commerce has eclipsed B2B does tend to be criticized for being in businesses, local companies might every other industry this past year. capital intensive while B2C is considered be susceptible to too much invasive Driven out of necessity, businesses were to be capital efficient. However, at the international influence where the MNCs forced to adapt to stringent measures end of the day, it all depends on the might take over the promising Indian and as a result, all operations went entrepreneur’s way of dealing with his startups. Having homegrown big market online. Bahl clearly states that the only business. Yes, there are interlinkages but players is essential for both investor and companies which made it through or on a whole, there is no ‘better’ business. business confidence in any economic hope to make it through are the ones that environment. were most open to adapting to the needs WHERE DO WE GO NOW? Consequently, he also believes that of the market. These companies also Bahl also has a very personal view when companies should be allowed to enlist had the necessary tech infrastructure it comes to the relation between the on foreign stock markets. He believes in place. Their supply and distribution stock market and the pace of digitization that if you are trying to build world- chains were digitized and adapted to in India. He doesn’t consider the stock class companies you need to be open to meet a new way of business dealing market to be too indicative of the world-class capital. At the end of the and they did everything they could to, digital economy, over the short term at day if a company is founded in India, if not grow, then at least maintain their least. Being asked about the idea that has its tech based in India, operations customer base and remain in touch with startups should list for IPOs, he says and management being headed in the consumer needs in an increasingly India and the supply and distributions physically detached business ecosystem. chains being under the aegis of Indian From Bahl’s perspective, the explosion departments, then the investments in digitization has been especially made internationally will find their stark in B2B businesses. The way back to India. Besides this, there technological solutions have is tremendous soft power to be gained been implemented very internationally by establishing branches quickly, notably the efficient of reputed Indian companies overseas. use of backend compiling and Not only does it garner more investor APIs. Cloud computing and confidence, it also leads to multilateral cloud architecture has also integration of business acumen between enabled things a lot. India and the rest of the world.

THE FUTURE To sum it up, Bahl considers the future of India to be very bright in the digital economy space. He encourages young graduates to take risks early on and take a shot at either being a part of or establishing startups. He considers innovation in the e-commerce sector as the gold mine for consumerist economies where convenience is quickly becoming king. But at the same time, he advises us to be pragmatic and give due diligence to all the information present before us. His one piece of advice to the youth, in short, is to take calculated risks and to never stop growing, or dreaming.

MAY 2021 l ENTREPRENEUR l 59 Connect BREAKER, THINKER, prominent THE CLOUD player in the CHANGER, EXPLORER, Managed HOSTING SERVICE Cloud Hosting industry, STORYTELLER,PROVIDER which is currently worth billions THINKER, heMAKER intention behind extensive work hours, of dollars. Vinod Chacko’s even over weekends, Chacko aims decision to start and who failed to value to expand T VINOD FlexiCloud was to provide efficient work. The rigors the current BELIEVER, CREATOR, CHACKO, companies, flexible cloud of the 9 to 5 began to business to FOUNDER, hosting services that they encroach upon Chacko’s a larger scale FLEXICLOUD TRENDSETTER,could use with convenience personal space, leading in the USA, throughout the year, with him to bid farewell to European various plans - policies and his full time job and markets STRATEGIST,programs being DOER, offered for take up freelancing with and United customers to choose from. seriousness. Chacko Kingdom, at Any company, situated in regards himself to be accessible cloud infrastructure the end of the FOUNDER,any part ofREBEL, the world can join an entrepreneur by destiny, is leveraged by the company present year, while setting up FlexiCloud with cloud pricing rather than by choice, he to host client applications. markets in the GCC as well. plans offered at a starting worked dedicatedly with Vinod is also the Co founder Some of the applications that INVENTIVE,price of 500 INR a month. an extensive range of web and COO OF Ourea, a 360 are currently being managed Chacko believed in hosting service , to come up degree business management by FlexiCloud are Node, following his heart. He was with cloud hosting solutions, consultancy. Laravel, Magento, WordPress, ADVENTURER,often perceived as the odd one that would not only help FlexiCloud is an enterprise and Codeigniter and with time out, by a few of the companies companies to resolve their that takes pride in ensuring to come the company aims to that he had been employed by, hosting problems, but customer satisfaction and provide to support for other FOR THE RULE BREAKER,who felt uncomfortable by the which is pocket friendly too. doesn’t mind going the extra applications too, once it has flexibility that was associated FlexiCloud , offers managed mile in order, to achieve succeeded in creating a mark with his working patterns, cloud hosting services as well, this. At present the company for itself, with respect to its GAME CHANGER,who expected him to put in whereby, existing, and publicly intends on becoming a different verticals.

STORYTELLER, overheads. cloud computing entails Cloud Computing and Cloud •Reduced Costs to 0 time lag, thus giving Hosting : Basics for Business – End-users – As one one an upper hand over MAKER, INNOVATOR, pays only for services, competitors who are Relevance for Businesses it does away with the late in adoption. need for personnel to •Cloud Hosting BELIEVER, MAKER,s elusive as loss, loss DOER, from other uploads and downloads, install and maintain Eliminates Possibility it may seem, advertent activity and recovery times are hardware and software, of Server Failure – Abut cloud natural calamities faster, thus ensuring it enables savings on The cloud ecosystem RULE BREAKER,computing is not the due to automated business continuity. both operating and is reliable and hence mainstay of large daily backups. Also, •Enhanced capital expenses. delivers consistent corporates alone. In cloud hosting provides Accessibility – Business •Scalability – Cloud performance with REBEL, TRENDSETTER,fact, it is more suitable additional security continuity is further computing enables assured uptime. This to small and medium as providers have to accelerated by easy faster scalability is possible because business (SMBs) comply with strict access to data, apps when one needs to the virtual machines owners, as it translates security protocols to and software from tackle unexpected web that host clients can into considerable protect customers’ anywhere. traffic. One can scale be migrated within the savings of resources. data, thus safeguarding •Reduced IT Costs – As down post the peak cluster of servers. it from internal data one rents IT hardware, too. Effectively, one •Reduces SOME OTHER BENEFITS theft, hacking and it significantly pays only for the extra Environmental THAT CLOUD-BASED infection. reduces infra spends resources required, Impact – Migrating to SYSTEMS OFFER TO • Business Continuity as the providers offer thus making it a highly cloud-based systems BUSINESSES ARE: – Due to heavy hosting space. This responsive and a cost- eliminates need for www.entrepreneur.com •Higher Security – dependence on automatically enables effective resourcing. owned data centres, With cloud computing, hardware virtualisation savings in power and •Virtually 0 thus considerably Find answers, discover solutions and explore new ideas to keep pushing the boundaries of your business. there is a 0 possibility tools, data back-up space, physical security, Deployment Time – minimising carbon of accidental data is speedy. With rapid insurance and other Deployment time in footprint.

60 l ENTREPRENEUR l MAY 2021 BREAKER, THINKER, CHANGER, EXPLORER, STORYTELLER, THINKER, MAKER BELIEVER, CREATOR, TRENDSETTER, STRATEGIST, DOER, FOUNDER, REBEL, INVENTIVE, ADVENTURER, RULE BREAKER, FOR THE GAME CHANGER, STORYTELLER, MAKER, INNOVATOR, BELIEVER, MAKER, DOER, RULE BREAKER, REBEL, TRENDSETTER,

www.entrepreneur.com

Find answers, discover solutions and explore new ideas to keep pushing the boundaries of your business.

MAY 2021 l ENTREPRENEUR l 61 Te c h GEEK TALK

ndia has a population of 1.3 January of 2015, after graduating billion, which will probably from IIT-Kanpur. It was during touch 1.4-1.5 billion in this their penultimate project, the year’s census. At present, three of them came across a Sachin India has over 750 million Tendulkar post on Facebook, ShareChat InternetI connection subscribers, and which had invited people to join will soon dethrone the leader China WhatsApp group. Curious of the as India heads towards the one- post, they went inside the group Is Changing billion mark. Needless to say, with after providing their numbers. To such high Internet penetration, the take their experiment a notch higher, number of smartphone users have they started 10 WhatsApp groups on How Next also skyrocketed and is expected to Sachin Tendulkar and were stunned settle around 820 million by 2022, to see these groups reaching their according to a report by Indian potential as participants discussed Billion Cellular and Electronics Association various topics in their regional and consulting firm KPMG. All these languages. “We realized that there above-mentioned figures imply one was a huge appetite for local content Users Will thing: Indians love to be online, as amongst Indian users. This eureka they want to stay connected and be moment convinced us to build a updated with whatever is happening platform for Indian languages and around. And what place is better here we are with ShareChat, India’s Interact On than a social media platform to stay first and largest Indic social media connected. platform,” he added. Twitter-backed Social media giants such ShareChat allows users to share Internet as Facebook and Twitter have their opinion, record their lives revolutionized the way we and make new friends in their own communicate. India, primarily a non- native language. The app segregates English speaking country, the likes of content into different genres such Facebook might have seen an active as news, fashion, humour, sports Twitter-backed participation rate, but have failed to and devotion, among others, for easy strike the right chord among the large accessibility and discovery. The app ShareChat portion of the population who aren’t claims that it is changing how the comfortable with English. One of the next billion users will interact on the allows users early companies to have spotted this Internet. setback was ShareChat, a Bengaluru- to share their based startup that was founded in PAIN POINTS 2015 as an indigienious social media Singh shared that in 2015, there were platform which boasts of operating in few social media platforms in India opinion, record 15 Indic languages including widely which catered to urban population spoken Bengali, Marathi Malayalam, as they operated in English. “Indians their lives and Tamil, among others. In an interaction especially those hailing from tier II, III with Entrepreneur India, Bhanu & IV cities found it difficult to interact make new Pratap Singh, co-founder and chief and connect culturally with these technology officer of ShareChat, shares platforms. While these platforms were friends in their what led to the idea of ShareChat very attractive, they weren’t designed and how the platform continues to for the first time Indian Internet own native differentiate itself from others. users,” he explained. He said there was a content vacuum on the Internet for SACHIN TENDULKAR TO native languages and ShareChat was language WHATSAPP GROUP created in order to address that need. By Debarghya Sil ShareChat was founded by Ankush “ShareChat was started with a vision Sachdeva, Farid Ahsan and Singh in to make users comfortable in the digital space without worrying about English literacy.” ShareChat has till day raised $264 million and has been in the news multiple times as reports The app currently enjoys a monthly active user base of around of it getting acquired by Google and Twitter surfaced time and again.

DRIVING BUSINESSES TO LOCALS In terms of business, advertisement 160 andmillion has male participation rate of 77 per cent.

62 l ENTREPRENEUR l MAY 2021 Our advanced features and easy UI makes us stand out in this constantly evolving market. Right from the signup process to the interface, the app is easy, simple, and user- friendly for the first-time Internet users.”

Bhanu Pratap Singh Co-founder, ShareChat

has been till date the longest running way into the country and engaging with user spent. The app currently enjoys a to grab attention of customers. With the audiences, they haven’t been able to do monthly active user base of around 160 advent of social media, advertisement at scale. This helped us create a unique million and has male participation rate seemed to have taken a holy dip, as proposition for brands, while enhancing of 77 per cent. However women have reaching millions of users never felt this the user experience,” he added. A year contributed significantly with 42 per cent easy. However, though Facebook, Twitter, after ShareChat started monetization, in content shares, post the lockdown. It Instagram and other US-based social around 150 brands have signed up with has also been noted that female share in media platforms existed, it failed to reach them and worked with them on multiple content creation—41 per cent—was more the majority of Indians who resided in occasions. than their presence 32 per cent on the rural pockets. As per a Google report, platform throughout the year. around 70 per cent of current Indian DISTINCTION Singh said the founders continue to Internet users prefer Indic languages over Post the ban on TikTok by the government enhance their product with the best- English. Two brands—PolicyBazaar and of India on the grounds of security in-class artificial intelligence/machine Games 24x7—that have accommodated reasons, several indigenious social media learning technologies that are intuitive to these local-language speakers are companies came under the limelight. the community's needs. reaching more customers than they were These apps overnight rose to fame and “Our advanced features and easy UI previously, giving them a whole new saw download numbers that they could makes us stand out in this constantly captive audience to engage with. have only dreamt off. Some of these apps evolving market. Right from the signup Singh said that ShareChat’s were talked highly by the government process to the interface, the app is easy, community is dominated by language- of India in order to support ‘Vocal for simple, and user-friendly for the first- first Internet users and hail from Local’. They raised funds in a quick time. time Internet users,” he added. The tier-II and tier-III cities; a space brands However, ShareChat which has been in company claims to work extensively on focus to scale. “We work with brands the ring since 2015 during months long the camera front by leveraging augmented and marketers to design customized lockdown saw a tremendous rise in video reality, filters, stickers, live streaming and campaigns, relevant to their target consumption and news genres and is live streaming video, among others. audience. Taking their product deeper now witnessing a 31 average minute daily

MAY 2021 l ENTREPRENEUR l 63 JOINJOIN THETHE CCLUBHOUSELUBHOUSE

CLUBHOUSE is the booming new social media app where big-name CEOs (and everyday entrepreneurs) speak in real time. Should you be there, too? And how do you make it worth your time? Here’s a guide. by ADAM SOCCOLICH

/ / 44 ENTREPRENEUR.COM April-May 2021 Illustration / MAX-O-MATIC 64 ll ENTREPRENEUR ENTREPRENEUR ll MAAYY 20212021

entaprmay21 044-050 Feat_Clubhouse.indd 44 3/16/21 9:19 AM JOINJOIN THETHE CLUBHOUSECLUBHOUSE

CLUBHOUSE is the booming new social media app where big-name CEOs (and everyday entrepreneurs) speak in real time. Should you be there, too? And how do you make it worth your time? Here’s a guide. by ADAM SOCCOLICH

April-May 2021 / ENTREPRENEUR.COM / 45 / / April-May 2021 / ENTREPRENEUR.COM / 45 44 ENTREPRENEUR.COM April-May 2021 Illustration / MAX-O-MATIC MAAYY 2021 2021 ll ENTREPRENEUR l 65

entaprmay21 044-050 Feat_Clubhouse.indd 45 3/16/21 9:19 AM entaprmay21 044-050 Feat_Clubhouse.indd 44 3/16/21 9:19 AM entaprmay21 044-050 Feat_Clubhouse.indd 45 3/16/21 9:19 AM FAQ FOR “ On Clubhouse tonight at 10 p.m. L.A. time”

That’s what Elon Musk tweeted on January 31. Hours CLUBHOUSE SKEPTICS later, his event reportedly broke Should you really invest your time in this? records for Club- house attendance. Here are answers. Then Mark Zuckerberg showed up on Clubhouse later that week. Then Ser- ena Williams, Joe Rogan, Bill Gates, Another social media app? YouTube. Perhaps it’s because people can’t and Dwayne “the Rock” Johnson. Do I need this? hide behind their words; they have to speak Since Clubhouse caught fire in late Maybe, maybe not. But like all new them live and hear others respond. Sure, 2020, moments like these are becoming platforms, you won’t know unless you try. disagreements break out. There are also common. The social network is built on Entrepreneurs are extremely active here, plenty of rooms devoted to unsavory politi- live audio—like giant conference calls— and many say they see direct ROI—after cal or hot-button issues. But among rooms and it has become the buzziest place for speaking in a room, for example, they’ll about entrepreneurship, conversation tends the biggest names in entrepreneurship, hear from potential new customers, part- to be cool, calm, and collected. as well as millions of others. They’re ners, and even investors. having conversations that last for hours That sounds very time-consuming. or even days. Frequent users have an OK, I logged in. Are people on here for hours? explanation for this: This is an authen- What am I looking at? If your goal is to speak in a room with tic, intimate space where anyone can The first thing you see is the “hallway,” a large audience, then yes, it can take hear from (and speak to) people whose which is the main feed of all the current a while. If you don’t know a moderator insights can be game-changing. “rooms.” Rooms are where the action is. personally, then you have to raise your But of course, entrepreneurs don’t Each one is created by a user; they have hand, hope to be called on, and wait your just sit back in the audience. They want short titles to explain their purpose. (For turn to speak. Hours can go by. But you to participate. That’s where Clubhouse’s example, a room might be about digital can be strategic about it. (More on that benefits are most powerful—and where marketing or how to grow your customer later.) Also, many active users multi- getting in the game is trickiest. base.) A quick swipe left or tap of the task while on Clubhouse. Shark Tank’s To start, Clubhouse isn’t the easiest bottom-right button will open your list Daymond John, for example, recently to use. It’s currently only on iOS, and an CLCL of contacts and show whether they’re appeared in an Entrepreneur-hosted existing user must invite you in. Once currently inside a room. room while on his treadmill! you’re there, the design isn’t always intuitive. Finding conversations that How do rooms work? Why do I want to speak? interest you can be time-consuming. Speaking to an audience of hundreds or Who is in charge? Are there benefits? thousands of people can be intimidat- Within each room, there are three main This is a complex question with abstract ing. And while any user can start a room roles: listener, speaker, and modera- answers. Think of it like being on a at any time, drawing an audience often tor. Listeners sit quietly and enjoy the panel at an in-person conference: The requires planning and coordination. conversation. Listeners can raise their other panelists may become useful new Where do you begin? I’m an active hands to ask to speak; if they’re brought friends, and audience members often Clubhouse user who runs a Twitter feed up to the “stage,” they can now engage in approach you afterward. It’s similar on called The Best of Clubhouse (it’s the conversation. Moderators (who have Clubhouse. Speakers often receive many @ClubhouseBest), which highlights green badges) have full control of the DMs on Instagram or Twitter (because the most interesting rooms and updates room—meaning they can invite speakers, there’s no DM feature in Clubhouse about the platform, and I also facilitate mute people, and more. itself), and some of those people turn large events on Clubhouse. On the fol- into customers or partners. Clubhouse lowing pages, I offer the best practices Are people just screaming at is also a new frontier; early adopters I’ve learned, as well as advice from some each other all the time? have an opportunity to build a sizable of the most interesting entrepreneurs Clubhouse rooms are much more civil than, audience, which will be much harder to

on the platform. say, the comment threads on Facebook or do in four to six months. PHOTOGRAPH BY GETTY IMAGES/JON KOPALOFF PHOTOGRAPHS COURTESY OF JOSH CONSTINE; ED NUSBAUM; JEREMIAH OWYANG; SOUMEYA BENGHANEM; MARIO ARMSTRONG

46 / ENTREPRENEUR.COM / April-May 2021 66 l ENTREPRENEUR l MAY 2021

entaprmay21 044-050 Feat_Clubhouse.indd 46 3/16/21 9:19 AM FAQ FOR HOWHOW “ On Clubhouse tonight TOTO p.m STARTSTART A ROOM THAT POPS at 10 . L.A. time” Sure, you can speak in someone else’s room. But you may have more fun (and get more attention) creating your own. Four prominent users explain how to draw an audience.

That’s what Elon Musk tweeted on January 31. Hours CLUBHOUSEUBHOUSE SKEPTICSSKEPTICS later, his event reportedly broke Should you really invest your time in this? records for Club- house attendance. Here are answers. Then Mark Zuckerberg showed up on Recruit experts. Align with a club. Write instructive titles. Create experiments. Clubhouse later that week. Then Ser- If you just start a room, You can start a room by yourself, When you create a Clubhouse “Treat your early days as an ena Williams, Joe Rogan, Bill Gates, Another social media app? YouTube. Perhaps it’s because people can’t nobody will care. But if or you can associate it with a room, you can give it a com- experiment,” says Soumeya and Dwayne “the Rock” Johnson. Do I need this? hide behind their words; they haveve to to speak speak you start a room with true “club”—a feature in which users pelling title so that people will Benghanem, product manage- Since Clubhouse caught fire in late Maybe, maybe not. But like all new them live and hear others respond. Sure, experts in a field, you’re create groups that host rooms be interested in joining. “Use ment lead at VMware. “As with all 2020, moments like these are becoming platforms, you won’t know unless you try. disagreements break out. There are also starting strong. “Your room and attract followers. “Thousands an instructive title,” advises experiments, there is an opportu- common. The social network is built on Entrepreneurs are extremely active here, plenty of rooms devoted to unsavory politi-- should be dense with nota- of extra people could be notified Kaleido Insights tech analyst nity to learn from success and fail- Jeremiah Owyang live audio—like giant conference calls— and many say they see direct ROI—after cal or hot-button issues. But among rooms ble insights and worth the when the event is first scheduled . The best ure.” In a way, Clubhouse is like and it has become the buzziest place for tion tends time of both your speakers and also when it starts,” says titles have a clear, concise a dream R&D setting: Nothing speaking in a room, for example, they’ll about entrepreneurship, conversation tends Josh Ed Nusbaum, the biggest names in entrepreneurship, and audience,” says a serial entrepreneur description that explains you do is saved or viewable after- hear from potential new customers, part- to be cool, calm, and collected. Constine, as well as millions of others. They’re principal inves- who started multiple popular clubs. exactly what the value of the ward (though that may change), ners, and even investors. tor and head of content (Full disclosure: I’ve administered room is, or what a listener and you get feedback in real time having conversations that last for hours That sounds veryery time-consuming. time-consuming. at SignalFire. The more rooms with his clubs for people and should do in it. For example, about whether or not something or even days. Frequent users have an OK, I logged in. Are people on here for hours? Clubhouse followers an brands, including Entrepreneur.) Owyang often hosts a room works. That means you can start explanation for this: This is an authen- What am I looking at? If your goal is to speak in a room with expert has, the bigger the To do this, however, you must called Share Your Wellness rooms with different titles and tic, intimate space where anyone can The first thing you see is the “hallway,” a large audience, then yes, it can take audience they’ll draw in. be a club administrator or contact Practices, which he says themes, see how they do, learn hear from (and speak to) people whose which is the main feed of all the current a while. If you don’t know a moderator a club’s administrator directly to encourages people to learn from the experience, and iterate. insights can be game-changing. “rooms.” Rooms are where the action is. personally, then you have to raise your discuss it. from one another. But of course, entrepreneurs don’t Each one is created by a user; they have hand, hope to be called on, and wait youryour just sit back in the audience. They want short titles to explain their purpose. (For turn to speak. Hours can go by. But you to participate. That’s where Clubhouse’s example, a room might be about digital can be strategic about it. (More on that benefits are most powerful—and where marketing or how to grow your customer later.) Also, many active users multi- We’re used to thinking about social platforms in terms of broad- getting in the game is trickiest. HOWHOW base.) A quick swipe left or tap of the task while on Clubhouse. Shark Tank’s casting; you build followers and then deliver regular content to To start, Clubhouse isn’t the easiest bottom-right button will open your list Daymond John, for example, recently them. Clubhouse works differently, which is why TV host and to use. It’s currently only on iOS, and an CLCCLUBHOUSECLLUBHOUSE Mario Armstrong of contacts and show whether they’re appeared in an Entrepreneur-hosted podcaster has come to think of it this way: To existing user must invite you in. Once currently inside a room. room while on his treadmill! ISIS succeed on Clubhouse, you have to unlearn everything you know you’re there, the design isn’t always about social media. Here are three reasons why. intuitive. Finding conversations that How do rooms work? Why do I want to speak? interest you can be time-consuming. Who is in charge? Are there benefits? Speaking to an audience of hundreds or / / / Within each room, there are three main This is a complex question with abstractct 1 Following 2 Promotion 3 Profiles are thousands of people can be intimidat- isn’t a barrier. needs reframing. flexible. ing. And while any user can start a room roles: listener, speaker, and modera- answers. Think of it like being on a tor. Listeners sit quietly and enjoy the panel at an in-person conference: The “For the first time, a social On other apps, people and On Clubhouse, users gener- at any time, drawing an audience often media app has less to do with brands share promotional ally see you (and look at your requires planning and coordination. conversation. Listeners can raise their other panelists may become useful new your following and more to content created by a team. On profile) only when you’re in a Where do you begin? I’m an active hands to ask to speak; if they’re brought friends, and audience members often do with the topic, title, and Clubhouse, nobody wants a room. That means you can Clubhouse user who runs a Twitter feed up to the “stage,” they can now engage in approach you afterward. It’s similar on content you are putting out,” sales pitch—and an audience update your bio to cater to he says. You can have zero expects to hear from you. each audience. Armstrong called The Best of Clubhouse (it’s the conversation. Moderators (who have Clubhouse. Speakers often receive manyy followers and still get the ear That’s not to say promotion has multiple bios of himself green badges) have full control of the DMs on Instagram or Twitter (because @ClubhouseBest), which highlights DIFFERENTDIFFE EN of a lot of people—if you get is impossible, but Armstrong stored on his phone, which the most interesting rooms and updates room—meaning they can invite speakers, there’s no DM feature in Clubhouse onstage in a big room. Also, suggests framing everything emphasize different things about the platform, and I also facilitate mute people, and more. itself), and some of those people turn unlike other platforms, there’s around asking or giving advice. depending on what audience large events on Clubhouse. On the fol- into customers or partners. Clubhouse Lessons from no feed where people see a (For instance, instead of hyping he’s speaking to. (In a room catalog of your content. Every- your brand, ask for feedback about podcasting, say, his bio lowing pages, I offer the best practices Are people just screaming at is also a new frontier; early adopters other social platforms thing happens live—followers on an idea.) “You’ll see a bunch stresses his podcast.) “That is I’ve learned, as well as advice from some each other all the time? have an opportunity to build a sizable don’t apply. are either there or they’re not. of different reactions. So listen, an ultimate hack: You can talk of the most interesting entrepreneurs Clubhouse rooms are much more civil than, audience,audience, which which will will be be much much harder harder to to pay attention, and reflect on about yourself without talking,” PHOTOGRAPH BY GETTY IMAGES/JON KOPALOFF PHOTOGRAPHS COURTESY OF JOSH CONSTINE; ED NUSBAUM; JEREMIAH OWYANG; SOUMEYA BENGHANEM; MARIO ARMSTRONG on the platform. say, the comment threads on Facebook or do in four to six months. PHOTOGRAPH BY GETTY IMAGES/JON KOPALOFF PHOTOGRAPHS COURTESY OF JOSH CONSTINE; ED NUSBAUM; JEREMIAH OWYANG; SOUMEYA BENGHANEM; MARIO ARMSTRONG what you are learning,” he says. Armstrong says.

April-May 2021 / ENTREPRENEUR.COM / 47 46 / ENTREPRENEUR.COM / April-May 2021 MAY 2021 l ENTREPRENEUR l 67

entaprmay21 044-050 Feat_Clubhouse.indd 46 3/16/21 9:19 AM entaprmay21 044-050 Feat_Clubhouse.indd 47 3/16/21 9:19 AM THE HE ART OF MODERATING DE TING A ROOM How to run a compelling conversation with many speakers and (hopefully) many more listeners.

relations, ushering up VIPs and scouting the room for both invited and sponta- neous guests who fit well. Moderator #3 can be a ‘bouncer,’ immediately remov- ing people from the stage who should no longer be there and muting guests who are creating audio feedback with their mics.” Because Clubhouse has no direct-message functionality, moderators often coordinate through Instagram or Twitter DM. Here’s a common problem in a room: An audience member is promoted to speaker, invited to ask a question, and then opens with a lengthy introduction about themselves and their company. “There is no body language, so your voice can go on and on uninterrupted, and five minutes can seem like forever,” says investor and adviser Kat Cole, former COO and president of Focus Brands. How can a moderator stop this? Experienced ones will introduce a new speaker themselves (even just by reading it off their bio) so that when it’s the new speaker’s turn to speak, they get to the point. Or a moderator can be even more proactive. “If it’s a more intimate format, I ask people to put their questions in oderating on Clubhouse forward,” says artist Drue Kataoka, a reg- their bio,” says Cole. Then she can read it is so complex, it’s often ular moderator on Clubhouse. “Sluggish ahead of time. M too much for one person rooms are small rooms.” Another great moderator practice is to handle. In addition to For this reason, the job is often split to “reset the room” every 20 minutes or selecting speakers from the audience, a up among multiple people. Kataoka so. That’s Clubhouse terminology for good moderator must also actively con- recommends partnering with people speaking two or three sentences that duct the conversation—which gets com- you trust, to make decisions fast. “Assign explain the room. “It’s important because plicated in rooms that may have a dozen clear roles ahead of time,” she says. new listeners have no context, and they’re or more speakers. “A great moderator “Moderator #1 can take an emcee role. always flowing in,” Kataoka says. “If those keeps the conversation brisk and moving Moderator #2 can be in charge of guest listeners are confused, they’ll leave.”

/ / 48 ENTREPRENEUR.COM April-May 2021 Illustration / MAX-O-MATIC 68 ll ENTREPRENEUR ENTREPRENEUR ll MAAYY 20212021

entaprmay21 044-050 Feat_Clubhouse.indd 48 3/16/21 9:19 AM THE HE ART OF THE NEW MY FAVORITE MODERATING DE TING A ROOM INFLUENCERSINFLUENCERS HACKS How to run a compelling conversation with many speakers and (hopefully) many more listeners. Clubhouse is creating a new kind of star. Three power users on Meet one of the biggest: Swan Sit. how they make the most of Clubhouse. relations, ushering up VIPs and scouting the room for both invited and sponta- Because Clubhouse operates Treat your neous guests who fit well. Moderator #3 events like can be a ‘bouncer,’ immediately remov- unlike other social channels, a client meeting. ing people from the stage who should it rewards different kinds of Clubhouse isn’t made no longer be there and muting guests for quick browsing, like Instagram or others, so be regimented who are creating audio feedback with actions—and creates new kinds with your use. “It has to work into the their mics.” Because Clubhouse has no of stars. Swan Sit personifies routine,” says adviser and investor Kat direct-message functionality, moderators Cole. “Schedule rooms one to two often coordinate through Instagram or that. She’s a board director of weeks in advance so you can plan Twitter DM. three companies (Edgewell, around them, and end at 60 minutes.” Here’s a common problem in a room: An audience member is promoted to NovaBay, and Far Niente), and she never yearned Find times speaker, invited to ask a question, and to be internet famous…but by being active and that work. then opens with a lengthy introduction Experiment to learn about themselves and their company. thoughtful on Clubhouse, she has accrued more when your target “There is no body language, so your audience is on the app. than two million followers. “I do this because it For Saba Karim, head of accelerator voice can go on and on uninterrupted, feels good,” she says, “and it helps people.” pipeline at Techstars, that turned out to and five minutes can seem like forever,” be 11 a.m. MST Sunday and 6 p.m. MST says investor and adviser Kat Cole, What enabled her success? Time. First, she Tuesday—so that’s when he creates former COO and president of Focus his rooms. “It took me six weeks on devotes a lot of it to the platform. “I replaced TV Clubhouse to get 5,000 followers,” he Brands. How can a moderator stop this? says, “where it took me six years on Experienced ones will introduce a new and podcasts with Clubhouse,” she says. Second, she Twitter.” (And for every hour he’s on, he speaker themselves (even just by reading never rambles when she speaks. “I am very choiceful estimates he receives 10 emails from it off their bio) so that when it’s the new founders afterward.) speaker’s turn to speak, they get to the with my words. It’s no more than three to five sen- point. Or a moderator can be even more tences. Because if you’re in a room with 500 people Play with the proactive. “If it’s a more intimate format, functionality. I ask people to put their questions in and you say something smart and concise, you may Clubhouse has few oderating on Clubhouse forward,” says artist Drue Kataoka, a reg- their bio,” says Cole. Then she can read it get 300 people following you at the same time.” features, but they can is so complex, it’s often ular moderator on Clubhouse. “Sluggish ahead of time. be used creatively to engage your audience. For example, too much for one person rooms are small rooms.” Another great moderator practice is In turn, she’s found that Clubhouse appearances M the “raise hand” button was designed to handle. In addition to For this reason, the job is often split to “reset the room” every 20 minutes or translate into real-world business. People have for audience members who want to selecting speakers from the audience, a up among multiple people. Kataoka so. That’s Clubhouse terminology for offered her jobs, a potential board seat, and five- speak. But Jason Fried, cofounder good moderator must also actively con- recommends partnering with people speaking two or three sentences that and CEO of Basecamp, likes to use it duct the conversation—which gets com- you trust, to make decisions fast. “Assign explain the room. “It’s important because figure speaking gigs. A billionaire asked her to to solicit audience feedback. He’ll ask people to tap the button if they like plicated in rooms that may have a dozen clear roles ahead of time,” she says. new listeners have no context, and they’re consult—and said to name her price. “That’s something, for example. “It would go or more speakers. “A great moderator “Moderator #1 can take an emcee role. always flowing in,” Kataoka says. “If those up to a 100 and we would know that keeps the conversation brisk and moving Moderator #2 can be in charge of guest listeners are confused, they’ll leave.” nuts!” she says with a laugh. “This is Clubhouse!” people dig this,” he says. PHOTOGRAPHS COURTESY OF SWAN SIT; KAT COLE; SABA KARIM; JASON FRIED

/ / 50 / ENTREPRENEUR.COM / April-May 2021 48 ENTREPRENEUR.COM April-May 2021 Illustration / MAX-O-MATIC MAY 2021 l ENTREPRENEUR l 69

entaprmay21 044-050 Feat_Clubhouse.indd 48 3/16/21 9:19 AM entaprmay21 044-050 Feat_Clubhouse.indd 50 3/16/21 9:19 AM 70 ll ENTREPRENEUR ENTREPRENEUR ll MAAYY 20212021 THE My business barely survived its first few years, and I nearly crumbled under the stress. Then I learned the greatest lesson CREATIVE of my career, which transformed our company into the go-to apron brand for restaurants everywhere: Without process, we are nothing.

by ELLEN BENNETT PROCESS founder and CEO, Hedley & Bennett STARTS WITH PROCESS

April-May 2021 / ENTREPRENEUR.COM / 53 MAAYY 2021 2021 ll ENTREPRENEUR l 71

entaprmay21 052-056 Feat_Book Excerpt.indd 53 3/17/21 8:24 AM THE MORNING OF our shipping deadline—the drop-dead date that “HOW“ ARE THOSE I needed to send 100 aprons to Chef Voltaggio—I ran down the flight of stairs in our factory to where our sewers were. The order still wasn’t ready. APRONS COMING ALONG?” My already palpable panic spiked as I entered their workspace. A tsunami of fabric exploded from literally every available space in I ASKED. the tiny room. A bag of half-eaten Cheetos slumped on top of an in- progress apron, the orange cheese dust millimeters away from spilling out and adding its own surreal accent. Takeout containers “WE“ GETTING CLOSE?” and half-drunk cans of soda were scattered everywhere. I implored, and pushed, and said with audible fear: “We can’t be late!” I beamed every ounce of energy and need for these aprons to be done squarely at our sewers. I yelled. It wasn’t fun, for me or for “OH,“ I’M SORRY, ELLEN,” them, but it had worked before. Frankly, this had become my management style. I was years away MY SEWER SAID. from seeing my own role in the dysfunction junction that was the production pipeline at H&B. I didn’t have an MBA. I had no fashion background. And I was too fucking busy as a bootstrapped founder. “I“ WILL FINISH THIS WEEK. The result was that we had no real system—not at any stage of the production chain, from us tossing the orders at the sewers, to them handing the aprons back (often with mistakes), to us finally getting I PROMISE.” the orders out to our customers (often late). And how did I move things along? I yelled. As long as we got orders out, I focused on the relief and success at the end of the day, not the six-dozen heart He’d said that yesterday, too. Time was running out. attacks that had occurred during the previous 24 hours. The year was 2013, and I’d just launched my workwear and apron But this time around, there’d be no such relief. By the time the startup, Hedley & Bennett. Today our aprons are standard in kitch- 100 aprons were ready, we’d missed the drop-off deadline at our local ens; we’re used in more than 6,000 restaurants across the U.S., and FedEx. We drove the shipment to Los Angeles International Airport we make a new sale every four minutes. But back then, we were clue- and tried to talk our way onto the tarmac to get the aprons on the less upstarts. We were trying to convince chefs—any chefs!—to try plane in time. (That was a hard no from the security guard.) The our aprons. And then, miraculously, we got one of our biggest orders aprons were not going to make it to D.C. All those other times we’d ever: Chef Bryan Voltaggio, who was the first-ever person to compete missed a deadline, we’d Scooby-Dooed some crazy work-around and on Bravo’s Top Chef and Top Chef Masters, wanted 100 aprons for his saved the day. But not today. We’d failed. D.C.-area restaurant, Volt. And he wanted them in just a few weeks. I called Bryan’s assistant to relay the bad news. There was no Exciting! And also: Yikes! We didn’t know how to make 100 one else to do it, and even if there had been, I would have made the aprons at once. But aren’t these the stories you hear about—the fake- call myself. It’s never more important to show up for someone than it-till-you-make-it tales, where entrepreneurs summon their grit and when you have to let them down. My palms clammed up and my it all works out? There was no way I was going to say no to a massive heart raced. order for a major player in the food world. So instead of checking my “Hi there; how are you?” I said softly. “I wanted to let you know inventory, consulting with my sewers, scheduling check-ins with my what happened. Unfortunately, we weren’t able to make the cutoff. team to ensure a smooth production, or even really asking myself if We are so sorry. The aprons are ready, but they didn’t make it onto this was possible, I just said yes. And I put a big X on the calendar on the plane. We did everything we could, but we just didn’t get them the day the order needed to go out. there. We’re going to overnight them tomorrow. And again, I’m so And then…I just expected it to happen. sorry about this.” What happened next would be the beginning of a slow revelation, There was a long silence. I could tell that she was taking in the fact and perhaps the greatest entrepreneurship lesson I’ve ever learned. It that she was now going to have to go and tell all this to her boss. is this: Processes are good. I originally thought they’d stifle my creativ- “Thanks for letting me know,” she said. “I’ll talk to Chef. This is dis- ity, but they do the exact opposite. They support creativity. Eventually, appointing, to say the least.” you have to step out of survival mode in order to thrive. It’s the bru- She wasn’t responding with raging anger, but I felt it all the same. tal truth of being a founder. Yes, leap. Yes, run. Yes, get up when you We ended up not charging for the order—nada for the money it get knocked down and try again. This is how you build a business. But would cost to overnight 100 aprons across the country and zilch for once that business is built, and moving, and growing, you’re going to the aprons themselves. Yes, the fine folks at Volt survived. And, yes, have to stop, reassess, and edit your methods. You have to find new we survived (even if our monthly budget didn’t). But that right there ways to communicate, to tell your team what you need, and to hear was a serious hockey stick to the face. what they need. You have to learn how to ask for (and give) help. Back then, this story felt like a failure. Today, it is a lesson I love Building a business will always be a work in progress, and new pro- sharing with others. When founders encounter a problem in our cesses will always be required as you grow. There’s no one system that business, it’s easy to blame our team, or ourselves as leaders. But saves the day forever. there’s a good chance it’s a process problem in disguise. Whip out But back then, I didn’t know any of this. Which is how I ended up your detective’s cap and do your due diligence. Obsessively document

throwing my team into madness. what you’re already doing. Zoom in on the recurring hiccups. Find INTRO PHOTOGRAPH BY JULIA STOTZ

54 / ENTREPRENEUR.COM / April-May 2021 72 l ENTREPRENEUR l MAY 2021

entaprmay21 052-056 Feat_Book Excerpt.indd 54 3/17/21 8:24 AM the cracks in communication. Then design better systems that cir- I expected and when, and making sure employees checked in regu- THE MORNING OF our shipping deadline—the drop-dead date that cumvent these unproductive habits. larly and renegotiated if they weren’t going to be able to meet their I needed to send 100 aprons to Chef Voltaggio—I ran down the flight “HOW“ ARE THOSE It can feel like a huge, daunting task. And it is! But the first step deadlines. of stairs in our factory to where our sewers were. The order still forward is simply to just keep moving forward. Own your mis- It meant more business, less emotion, and way more accountabil- wasn’t ready. takes and realize that each misstep is a new chance to improve your ity. Creating this structured system of communication allowed us to APRONS COMING ALONG?” My already palpable panic spiked as I entered their workspace. operation. have clear expectations—on both sides—of our roles. A tsunami of fabric exploded from literally every available space in I wish I could tell you that I solved all our process problems over- At first, it felt like I was learning to walk and talk all over again. It the tiny room. A bag of half-eaten Cheetos slumped on top of an I ASKED. night. I did not. But here’s how I got there. took months for the smallest shifts to happen. But once we started in- progress apron, the orange cheese dust millimeters away from spilling out and adding its own surreal accent. Takeout containers overhauling my behavior as a leader, and overhauling the culture at AFTER WE FAILED “WE“ GETTING CLOSE?” and half-drunk cans of soda were scattered everywhere. to deliver those 100 aprons, Hedley & Bennett H&B, things got real in a way they hadn’t before. Gaps in our produc- I implored, and pushed, and said with audible fear: “We can’t be made incremental improvements. We brought all of our sewers tion processes seemed to resolve themselves. Conflict among employ- late!” I beamed every ounce of energy and need for these aprons to in-house and scaled our factory production accordingly. We built a ees or departments was efficiently sorted out. I learned to proactively be done squarely at our sewers. I yelled. It wasn’t fun, for me or for valuable community of chefs across the country, growing our brand engage with unhappy team members, rather than hide from the “OH,“ I’M SORRY, ELLEN,” them, but it had worked before. awareness, our reach, and our orders. We expanded our staff—and problems causing frustration. And I learned to identify larger prob- Frankly, this had become my management style. I was years away we gave them 401(k)s and health insurance! We’d implemented lems within our organization. from seeing my own role in the dysfunction junction that was the processes that helped cut down on the number of things falling That’s the thing about taking the time to create processes and com- MY SEWER SAID. through cracks. munication systems that work: All of a sudden, you have the headspace production pipeline at H&B. I didn’t have an MBA. I had no fashion background. And I was too fucking busy as a bootstrapped founder. But we were still understaffed and under-resourced. We were still to spot what might become your next hurdle. By 2018, I had many “I“ WILL FINISH THIS WEEK. The result was that we had no real system—not at any stage of the regularly selling out of core styles. The staff still felt underappreci- incredible, loyal, talented employees. But I realized that almost all of production chain, from us tossing the orders at the sewers, to them ated, still constantly had to weather fire drills. (Even 401(k)s and them were kids like me, who’d come on board early because they’d handing the aprons back (often with mistakes), to us finally getting healthcare can’t solve that.) Worst of all, my fiery personality was cared more about the adventure than their compensation. Now they I PROMISE.” the orders out to our customers (often late). And how did I move still getting the better of me in front of my staff. were different people, and Hedley & Bennett was a different company. things along? I yelled. As long as we got orders out, I focused on Rather than taking the time to truly understand what the com- We set out to assess every person in the organization. We laid out the relief and success at the end of the day, not the six-dozen heart pany needed, I tried to fill gaping holes in our organization as what our next years would look like, and gave people the opportunity He’d said that yesterday, too. Time was running out. attacks that had occurred during the previous 24 hours. quickly as possible, on the fly. By 2017 we’d been Tonka truck- to decide to recommit to the brand’s future growth or to say, “It’s not The year was 2013, and I’d just launched my workwear and apron But this time around, there’d be no such relief. By the time the ing along for five years, and I did something I couldn’t afford to do for me” and form a transition plan. startup, Hedley & Bennett. Today our aprons are standard in kitch- 100 aprons were ready, we’d missed the drop-off deadline at our local before: I threw money at the problem. Lots of really great people have come through our doors, done ens; we’re used in more than 6,000 restaurants across the U.S., and FedEx. We drove the shipment to Los Angeles International Airport I hired a series of part-time consultants and executives, hoping their part, left their mark, and moved on, and that was the natural we make a new sale every four minutes. But back then, we were clue- and tried to talk our way onto the tarmac to get the aprons on the one of them would turn this canoe around before we went over the course of business. My coach had said to me: “Your business is like a less upstarts. We were trying to convince chefs—any chefs!—to try plane in time. (That was a hard no from the security guard.) The falls. Each had something to offer, and their own flavor of wisdom. bus, and it’s on a long journey, so it’s only normal to have people get- our aprons. And then, miraculously, we got one of our biggest orders aprons were not going to make it to D.C. All those other times we’d Sometimes, their advice was great in theory, but in application it ting on the bus and off the bus at different stops.” Normalizing that is ever: Chef Bryan Voltaggio, who was the first-ever person to compete missed a deadline, we’d Scooby-Dooed some crazy work-around and conflicted or just didn’t work. Some of these consultants were meant just a part of the journey. on Bravo’s Top Chef and Top Chef Masters, wanted 100 aprons for his saved the day. But not today. We’d failed. to be temporary. Others didn’t last longer than a haircut. We’d be Today, Hedley & Bennett is 31 employees strong. We’ve moved our D.C.-area restaurant, Volt. And he wanted them in just a few weeks. I called Bryan’s assistant to relay the bad news. There was no left with half-implemented plans and processes, which the next per- order fulfillment to a third-party logistics partner, which has allowed Exciting! And also: Yikes! We didn’t know how to make 100 one else to do it, and even if there had been, I would have made the son would come in and revamp, creating an ever-costlier and mess- us to increase capacity and speed without putting all the weight on aprons at once. But aren’t these the stories you hear about—the fake- call myself. It’s never more important to show up for someone than ier form of chaos. our staff. We’ve strengthened our production processes, which has it-till-you-make-it tales, where entrepreneurs summon their grit and when you have to let them down. My palms clammed up and my Finally, in 2018, my CFO and head of HR sat me down for what led to a decrease in out-of-stock issues and a chance to focus on per- it all works out? There was no way I was going to say no to a massive heart raced. we now call “the Intervention.” sonalization for customers. We’re expecting our core business to dou- order for a major player in the food world. So instead of checking my “Hi there; how are you?” I said softly. “I wanted to let you know They told me, kindly, that it was a miracle our self-funded busi- ble in 2021. And we still provide aprons to Chef Bryan Voltaggio, who inventory, consulting with my sewers, scheduling check-ins with my what happened. Unfortunately, we weren’t able to make the cutoff. ness was still standing after five years of me trying to do everything forgave our early failure. team to ensure a smooth production, or even really asking myself if We are so sorry. The aprons are ready, but they didn’t make it onto on my own. They told me they expected me—and the company—to I, however, remain an imperfect leader. I’m not sure I’ll ever this was possible, I just said yes. And I put a big X on the calendar on the plane. We did everything we could, but we just didn’t get them eventually crack under the pressure. And they told me that my com- achieve perfection, or if it’s even possible. As a team, we still have the day the order needed to go out. there. We’re going to overnight them tomorrow. And again, I’m so munication style was creating an unpleasant work environment. frustrating days. Unexpected problems still appear. But I don’t take And then…I just expected it to happen. sorry about this.” In short: “Are you going to let your company be full of people who it out on my staff, and I don’t try to carry the weight of the company What happened next would be the beginning of a slow revelation, There was a long silence. I could tell that she was taking in the fact are disgruntled about working here, or are you going to do some- alone. Together, we know how to problem-solve. And together, with and perhaps the greatest entrepreneurship lesson I’ve ever learned. It that she was now going to have to go and tell all this to her boss. thing about it?” our process, we’ll keep moving forward. is this: Processes are good. I originally thought they’d stifle my creativ- “Thanks for letting me know,” she said. “I’ll talk to Chef. This is dis- I sat. I listened. I cried. But it was the wake-up call—and the show ity, but they do the exact opposite. They support creativity. Eventually, appointing, to say the least.” of support—that I needed. Together, the three of us finally got down you have to step out of survival mode in order to thrive. It’s the bru- She wasn’t responding with raging anger, but I felt it all the same. → From Dream First, to the nitty-gritty of what needed tuning up. tal truth of being a founder. Yes, leap. Yes, run. Yes, get up when you We ended up not charging for the order—nada for the money it Details Later: How to Quit This time, instead of trying to Band-Aid our problems with out- Overthinking and Make It get knocked down and try again. This is how you build a business. But would cost to overnight 100 aprons across the country and zilch for side help, we started attempting to heal from the inside, slowly and Happen!, by Ellen Bennett with once that business is built, and moving, and growing, you’re going to the aprons themselves. Yes, the fine folks at Volt survived. And, yes, methodically. I began working with an executive coach on the very permission from Portfolio, have to stop, reassess, and edit your methods. You have to find new we survived (even if our monthly budget didn’t). But that right there an imprint of The Penguin ways to communicate, to tell your team what you need, and to hear was a serious hockey stick to the face. unsexy task of interdepartmental communication and relationship Publishing Group, a division of what they need. You have to learn how to ask for (and give) help. Back then, this story felt like a failure. Today, it is a lesson I love building. She had already met with my staff members for individual Penguin Random House LLC. Building a business will always be a work in progress, and new pro- sharing with others. When founders encounter a problem in our one-on-ones. The consensus: I needed to work on how I expressed Copyright ©2021 by Ellen Bennett. cesses will always be required as you grow. There’s no one system that business, it’s easy to blame our team, or ourselves as leaders. But myself and delegated to my team. saves the day forever. there’s a good chance it’s a process problem in disguise. Whip out This meant taking a beat when we ran into a problem rather than But back then, I didn’t know any of this. Which is how I ended up your detective’s cap and do your due diligence. Obsessively document stopping to fix it immediately, unnecessarily involving everyone. It meant talking to employees privately if there was a mishap, instead throwing my team into madness. what you’re already doing. Zoom in on the recurring hiccups. Find INTRO PHOTOGRAPH BY JULIA STOTZ of in front of others. It meant being much more direct about what

54 / ENTREPRENEUR.COM / April-May 2021 MAY 2021 l ENTREPRENEUR l 73 56 / ENTREPRENEUR.COM / April-May 2021

entaprmay21 052-056 Feat_Book Excerpt.indd 54 3/17/21 8:24 AM entaprmay21 052-056 Feat_Book Excerpt.indd 56 3/15/21 12:47 PM Life IN CONVERSATION The Midas Touch hether she’s creating behind-the-runway looks for Alice Tem- perley, glamming up Wthe Victoria’s Secret Angels, beautifying A-listers such as Amal Clooney on their big day, or getting the likes of Olivia Palermo ready for Fashion Week, there’s not a day when Charlotte Tilbury isn’t working her makeup magic. She is an A-lister in her own right. Amid India enjoying a luxury beauty renaissance, Charlotte Tilbury Beauty, which is worth around £1.2 billion, finally made a home in the country through e-commerce platform Nykaa last November. One of the most in-demand makeup artists in the world, known for creating glowing complexions and natural-looking faces – all with her best-selling products, of course. In an exclusive interview with us, she tells us about her journey into beauty industry, her ultimate makeup tips and beauty secrets – including how she keeps her own skin looking so flawless and how you can use makeup to cheat your way to fuller lips, bigger eyes, and supermodel definition.

By Puneet Kapani

My career as a makeup artist began in the early ’90s, working backstage at fashion shows with all of the biggest supermodels, from there I went on to work with the most genius creatives and luxury fashion houses on global campaigns, with celebrities for red carpets and editorial shoots” Charlotte Tilbury, founder, president and chief creative officer, Charlotte Tilbury Beauty Ltd

74 l ENTREPRENEUR l MAY 2021 When did you realise every celebrity and supermodel to textures and shades in this palette you wanted to pursue beauty create the most luscious, perfected are fool proof and make it so easy to professionally? and fuller-looking pout. You can enhance your facial framework in “From a young age I was always re-size and re-shape the appearance seconds! Starting with the bronze walking a path towards artistry. of your lips in an instant, creating shade a natural, warm contour I grew up in Ibiza, surrounded fuller, wider-looking lips. I also like shade use any precision brush, like by a melting pot of creatives and to use my Lip Cheat’s as a stencil my Powder & Sculpt brush, suck in visionaries who sparked my own over the lips to make the lip colour the cheeks and ‘follow the hollow’! creativity – it was so bohemian pop and enhance the staying power. Once you’ve finished contouring, and magical! The first time I The wax and oil-rich formula has a use a bigger bronzer brush to add a knew I wanted to pursue beauty smooth, rich texture that glides on subtle sun-kissed glow to the skin, professionally came when I was effortlessly and it’s waterproof so and remember to blend... blend... 13-years-old. I discovered a tube there’s no feathering or transferring. blend!!” of mascara and when I applied When you apply, look in the it, I instantly felt more confident mirror and smile, tightening the What are three makeup and more empowered. I have skin on the lips to see exactly where products we’ll always find very fair eyelashes and wearing to apply the pencil. Starting on the in your makeup kit? mascara completely transformed outer corners trace the liner just “My makeup kit is always packed full my eyes! People reacted to me in outside the natural lip line. This of my amazing makeup and research- a very different, positive way! It will help cheat a fuller pout, create powered skincare products – when I was mascara that showed me the symmetry to the lips and help to stop travel for work I take seven suitcases power of makeup and from that the lipstick bleeding, without looking with me – that’s before any clothes! moment I knew I needed to share unnatural. But, three products you’ll always it with the world and that one My top tip for creating the find in my makeup kit, my handbag day, I would create my own beauty appearance of extra voluminous or on my desk in my magic office are, company. Mascara changed my lips is to add a soft highlight to the firstly, my award-winning celebrity- life at 13, and I still get that same Cupid’s bow. Using my Hollywood loved Magic Cream! You’ll find a jar feeling of empowerment today Beauty Light Wand and a small of my iconic moisturiser wherever when I’m wearing my Pillow Talk lip brush, add a soft ‘x’ across the you look – I have travel sizes for Push Up Lashes mascara! My career Cupid’s bow. The light-reflecting keeping in my handbag and gifting as a makeup artist began in the highlight will create the appearance to celebrity clients, and gorgeous early ’90s, working backstage at of plumper-looking, more luscious giant jars in my bathroom, I never fashion shows with all of the biggest lips in an instant!” do makeup without it! My second supermodels, from there I went on to product would definitely be mascara! work with the most genius creatives What are your tips for Mascara was the first product I tried and luxury fashion houses on global adding structure and and ever since I have been obsessed campaigns, with celebrities for red definition using makeup? with lashes and mascara! My Pillow carpets and editorial shoots – I feel “Contouring is one of my favourite Talk Push Up Lashes is the one incredibly lucky to have the most tricks of the trade for enhancing mascara that can do it all! From the magical career! your facial framework and adding innovative Kerestore™ 2.0 infused definition to your features. I have formula, that conditions your lashes How do you manage your created two genius products that whilst you wear, to the exclusive jam-packed calendar? make contouring easy and effortless pro precision paddle brush that lifts “My calendar is always jam-packed! for everyone. There’s my Hollywood and paints every individual lash and I’m a wife, mother, makeup artist, Contour Wand, a lightweight liquid delivers a 24hour vertical lift effect, and Founder, Chairman, President, formula with a cushioned head this mascara is the perfect lash DNA and Chief Creative Officer of my applicator for targeted application. in a tube! It gives you the glossiest, company, so my day-to-day schedule The creamy formula is buildable lifted, defined, strong-looking, can be very hectic – especially as I’ve and blendable so you can sculpt separated, voluminous beautiful also been home-schooling during your features with ease! I apply the lashes, every time!” the pandemic too! I have to have Contour Wand to my cheekbones, Finally, lipstick is happiness in structure, remain focused and driven temples, forehead and down the a tube, so you’ll always find it in to be able to take it all on but, at the side of the nose and blend with my my makeup kit! From my award- same time it’s incredibly rewarding. Hollywood Complexion Brush to winning, globally-loved nude-pink This is my dream and I’ve worked instantly sculpt the appearance of Pillow Talk, which sells once every incredibly hard to get here! I feel the face! two minutes, to my new innovation so lucky I get to live out my dream My Filmstar Bronze & Glow is Hyaluronic Happikiss that delivers a every day and that I have so many my original, iconic, contour and high-performance, hydrating kiss of incredible opportunities – I hate highlight palette and my beauty colour and all of my incredible Hot saying no because I want to do it all!” secret for sculpting killer red Lips 2 lipsticks, created in homage carpet cheekbones with a divine, to some of the iconic women and Is there a way to use makeup to candle-lit highlight It’s the perfect men I’ve worked with. Lipstick is a make lips look fuller? intro to a more-subtle shading and quick and easy way to add instant highlighting product! This is a red glamour to your look, brighten your “My Lip Cheat lip liners are my carpet favourite, every celebrity complexion and lift your mood!” backstage beauty secret that I use on has this in their makeup bag! The

MAY 2021 l ENTREPRENEUR l 75 Life APPS

Everyday Apps on your phone that 4 can do much good! With a multitude of apps on and off your phone, there sure are some that can be beneficial to keep in the longer run. Zerodha CEO, Nithin Kamath, has his own favourites that keep him productive and inspired, and here are 4 apps he vouches for! By Puneet Kapani AUDIBLE Audible is a blessing in disguise for readers who don’t find the time to read anymore as well as for non-readers who can’t get themselves to pick up a book. “I had lost my reading habit until I discovered Audible. I realized that I enjoy listening to audiobooks more than reading physical books and I now regularly listen to audiobooks on Audible”, Nithin revealed.

PULSE Another bane of the busy life is not being able to keep up with news and developments in the business, entertainment or whichever sphere you are interested in. Nithin admits, “With so much news, it's hard to browse multiple sites so I use Pulse which aggregates all the best finance news in one place.” The Pulse News app is a great addition to have for your daily tab of relevant news. SPOTIFY Nithin also uses Spotify for listening to music and podcasts. In the millennial generation, almost everyone can claim to have used Spotify at least at some point of time. What folks are missing out on are some amazing podcasts in addition to the music we are all very familiar with. Podcasts from different genres can be very refreshing, and, in fact, even addictive if you’re lucky to find a great one. GUITAR TABS For music lovers, there are actually a multitude of apps available for free on the Play Store. Nithin says, “I love strumming and Guitar Tabs makes is a really handy app that helps me play songs quickly.” If you’re struggling to pick up your old instrument because you’re out of practise, Guitar Tabs can be a quick and easy guide to get back to your six strings!

76 ll ENTREPRENEUR ENTREPRENEUR ll MAAYY 2021 2021 3 APPS TO HELP BOOST YOUR BUSINESS

By Puneet Kapani

Productivity tools, software and business intelligent programs have become all too popular for budding businesses to boost their growth, organization, scalability, and several other aspects. What if you could skip the hassle of lengthy configurations and setups, and handy apps could help to boost your business? Apps have for the major part overtaken the place of complex software, tools and even customer care professionals for the quick help they are able to extend. With a one click download from the App Store or Play Store perhaps even your business could take a quick boost.

Here are three apps that you can help you boost your business, and help scale it further in 2021:

So, you’ve got your business Officially authenticating documents Another important aspect of handling a small setup, products listed, and as and when needed is a tough task in business is finances. While your ideas might shipping is a big headache. the digital era. To be honest, no one be great, and you know how to drive the brand, ShipStation is a one-stop app has the time anymore to physically finance management isn’t everyone’s cup of tea. for selling and shipping products get documents signed, especially not Many businesses lag behind trying to tussle online that can streamline your if you’re trying to run a new business. with their finances, and Quickbooks is an app entire e-commerce machinery. DocuSign is a handy app that helps you that can help you take care of the same. You You can focus on your products collect signatures online or through a can connect your banking platforms, and digital while the app takes remote device. Your clients or employees wallets with real-time expenses and business care of the rest. can remotely sign documents, finances to keep everything in order. that too securely. STANDOUT FEATURES STANDOUT FEATURES STANDOUT FEATURES >> Cloud-based, easy to use >> Link PayPal, Bank Accounts, and other application compatible with >> No in-person signatures required, payment wallets to your business finance data. Shopify and WooCommerce. complete remote functionality. >> Track expenses, profits, losses, invoices, >> Get order alerts, process >> Integrations with other tools such as employee tabs and much more. orders, print shipment labels, Google and Microsoft. >> Advanced features to upload receipt images, and track them on the go. >> Digital encryption and decryption of and keep records for tax purposes. >> Customized shipping labels and signatures that can be officially binding order process for your for business purposes. PRICING specific business. >> Sort your finances with a stater PRICING plan at $7.50 per month. PRICING >> Get a starter plan at $10 per month, You’d never know how apps could change your >> You can purchase a starting and get official documents in order. business horizon, unless you try these top plan at a steal of $9 per month. listers as your business partners!

MAY 2021 l ENTREPRENEUR l 77 Life WORK FROM HOME

Entrepreneurs who kept themselves fit while working from home By Puneet Kapani

itness and working like a couch-potato, WORK WITH WHAT like most of us have been, don’t really go YOU HAVE hand in hand! While some of us struggled Abhishek Jindal, CEO at OwnersTown has been leading his real estate to be fit even before the pandemic began, business for over four years. From F rental management, documentation the lockdown has really taken away the little management, legal & liaison support, physical activity that people were bound to have maintenance to service vendor support, everyday. Ever wonder how entrepreneurs do it? OwnersTown has several domains for work and management, yet the CEO Staying fit with WFH? Here’s how... You might has managed to take fitness to another have made several attempts at home-workouts level while working from home. “The and fitness morning routines since the COVID-19 ‘work-from-home’ period following the Covid-19 lockdown last year was like pandemic forced us all to work from home majorly. a blessing in disguise for me, as far as On social media, a widespread productivity contest my own fitness is concerned.” , he said. Not fretting too much over equipment, began, but not all of us can claim to have been fit “I started working out on a daily basis with our reducing physical activities. Well, many inside a mini-gym in my apartment, using whatever equipment was there”, entrepreneurs have recognized the importance of a Abhishek shared. He also emphasized “healthy body-healthy mind” and have been able to - “The regime was simple – it was a crush their work regimes as well as their fitness ones. combination of weights and cardio on alternate days. I feel lucky to have had a trainer who guided me regularly in

78 l ENTREPRENEUR l MAY 2021 terms of working-out as well as a dietician whom with my favorite podcast which was helpful too”. I consulted for eating the right kind of food to stay healthy and fit over the longer term.” His personal MAKE MOVES OR MAKE EXCUSES fitness transformation journey that began during Prashant Mehta, partner at Lightbox is another last year’s lockdown has become an integral part leading entrepreneur who has managed to keep up of his lifestyle now. He says, “I cannot even think an inspiring fitness regime with extensive WFH. about skipping my workout regime for even a “Working from home doesn’t mean that you can’t single day! I work out in the morning for around work out at all, the little things such as walking one hour every day. Now with the ‘second wave during taking calls or running up the stairs of your of the pandemic hitting us, it is obviously more building all add up. If you don’t have a treadmill important than ever to build and follow a fitness- then even a power walk around the block helps.”, oriented lifestyle, mostly within the four walls of he says. our homes.” While Prashant believes that outdoor spaces Sticking to home food and plenty of fresh are always energizing, the complete lockdown fruits and vegetables, Abhishek suggests that even didn’t stop him from riding his stationery indoor simple dry fruits like almond, and cashew consist exercise bike. “With the help of virtual training of essential vitamins and minerals, that can help apps like Zwift and Rouvy, I could virtually boost your immunity. ride with my friends in Mumbai, California and London at the same time picking famous routes, A SIMPLE ROUTINE AND GOOD DIET actually riding more often than I would”, Prashant Vaibhav Domkundwar of Better Capital talks cherished. about simple routines to keep the fitness balance “I do 100-200 stairs a day and also use the even while working at an early-stage venture ramps of the parking lot in my building as little firm with investments in Khatabook, Rupeek, hills to get my heart rate pumping.”, he shared. Teachmint, and many others. “The lockdown was He also emphasizes the need for mental fitness hard because every day became a 15 hr workday along with being physically fit. “Working from on zoom”, Vaibhav admits, and we unanimously home also gave me an opportunity to bond with agree. He talks about a simple exercise routine, my daughters whether it’s a short run in the ample sleep, and a low-carb diet that helped him parking lot or yoga and meditation for 15 minutes beat the downsides. between calls. It makes a big difference.”, he said. Vaibhav shares, “Fittr founder Jitendra “We followed a couple of YouTube channels - our Chouksey got me started on a weights routine and favorite ones for HIIT and core workouts are a diet plan to go along with it. I think I’ve been MadFit and Heather Robertson and Sarah Beth for failing on the sleep part but managed to lose a easy yoga stretches - the best thing is we could do bunch of kilos with my routine and keep them these at any point during the day since they are away. Whenever possible, I added in a brisk walk always available.”, Prashand added.

“I do 100-200 stairs a day and also use the ramps of the parking lot in my building as little hills to get my heart rate pumping.” Prashant Mehta, partner at Lightbox BharatAgri is a farming technology is a farming BharatAgri with work we where platform at BharatAgri We directly. farmers our mission of bridging follow technology the gap between in India with a and agriculture out to maximum vision to reach support We Indian farmers. Efficient, Grow to “Grow farmers the systematic through More” implementation of scientific critical providing techniques by times at appropriate information monitoring. At and regular understand each we BharatAgri, believe we requirements, farmer’s deserves a chance - farmer every a successful future the chance for with technology. griculture has been one of the slowest has been one of the slowest griculture industry technologically developing a long time in the past. It is in India for crippled with multiple problems like high loan like crippled with multiple problems warehousing landholding problems, low interests, India etc. intelligence, lack of farming problems, more accounting for million farmers, with 118.7 dependent than half of the population is heavily of income and as a primary source on agriculture been the longstanding have all these problems Agritech industry. pain-points of the agriculture to curb these issues by emerging startups are the algorithms for the operating improving in the agritech This surge industry. farming startups of the has denoted an advancement digital adaptivity through industry towards intelligence and the agronomic improved of agritech startupsonly was mushrooming curiosity and possible because of the increasing to adopt the the willingness of the Indian farmers technology. A BigHaat is founded by a by BigHaat is founded entrepreneurs team of avid Their 2015. in the year includes offering portfolio of Seeds, Plant range broad Plant Nutrition Protection, Implements. BigHaat and Agri is driving Platform Technology Agri Inputs efficiencies of of in the areas manufacturers and distribution, marketing with data-driven operations business Our intelligence. data enables strategy various value of Agri stakeholders chain to come together and build an end to ecosystem community and farming for driving sustainable agriculture. solutions DeHaat is one of the fastest- start-upsTech in Agri growing end-to-end sector providing solutions and services to the in India. Currently, farmers in eastern operating are they UP and Odisha - India - Bihar, in their farmers with 265,000 with a goal service network to cater services to 5 million are They 2024. by farmers a one-stop farmers offering to grow, solution on crops to sell and where to grow how in under one roof the products an accessible and affordable way. 5 helping Indian technology-based technology-based intelligent farming intelligent farming homegrown startups homegrown farmers with advance farmers CropIn is an intuitive, intelligent, is an intuitive, CropIn that delivers system self-evolving solutions farming future-ready sector. agricultural to the entire decision-making deliver They tools that bring consistency, dependability and sustainability to agri-businesses. With reporting, capabilities of live and analysis, interpretation insight that span across is digitizing geographies, CropIn while data-managing farm, every Their ecosystem. the entire solutions are smarter Agri farmers for in real-time; powered patterns, predict to archive a blueprint for to make trends, business in the times to farmers' come. APPS Here is a list of 5 homegrown startups that are helping Indian farmers with advance-technology-based intelligent farming solutions. intelligent farming with advance-technology-based helping Indian farmers startups that are is a list of 5 homegrown Here Gramophone is an Intelligent Farming Platform providing providing Platform is an Intelligent Farming Gramophone farmers. than 700,000 Intelligence to more Agronomic Khan, and Tauseef Nishant Vats Started by in 2016 farmers for platform is a one-stop e-commerce Gramophone villages than 20,000 inputs in more agricultural delivering end-to-end solutions and services to provides Gramophone community in India enabling them to increase the farming giving them the right advice to go their income by Their services range to sell the right products. right market assistance farmers providing SafalProgram Super from till the end of harvest the scratch from their crops for pesticides about the seeds, required such as information kit nutrition, to SamridhiKit, which is a natural and crop with the helping farmers containing all the microorganisms has also set up Gram nourishment of their soil. Gramophone to support the disrupted in villages in order centres Uday launched Gram supply chain. The startuprural has recently a total of has raised the company 3 rounds, VyaparOver in funding. $6M Tech

80 l ENTREPRENEUR l MAY 2021 Life BOOKS MOVING FROM

BOOKS TO GEHANI AKASH KINDLE INSTAMOJO CO-FOUNDER, & COO Founded in 2012 by Sampad Swain, Akash Gehani and Aditya Sengupta, Instamojo is a growth gateway platform for Micro, Medium & Small Enterprises (MSMEs) that enables them to build, manage and grow their business online. As we all celebrated World Book Day last month, Entrepreneur asked the avid reader Akash Gehani, Co- founder and COO, Instamojo on his best picks. Talking about his transition from books to kindle Gehani says, “While reading a book, I instinctively keep tapping the top of the page for time, or hold a word to check the meaning. Such has been the transition to kindle.”

conversation between two folks The Evolution of which ranges across Cooperation a whole lot of topics. BY ROBERT AXELROD But this book as far l “What makes it possible for cooperation to emerge too many memorable is the fact that the players might meet again” quotes that help explaining the world. l This book showcased a lot of research and l “You can change studies, and gave a great idea of what it takes for only what people people to cooperate. It dispels the notion that know, not what they cooperation cannot emerge in a world full of egoists, do.” or one which doesn’t have a central authority. The l “The human foundation of cooperation is not really trust, but the mind is a delusion durability of the relationship. generator, not a window to truth.” God’s l “The best any Debris human can do is to Born to Run A Thought pick a delusion that A Hidden Tribe, Superathletes, and the helps him get through Experiment the day” Greatest Race the World Has Never Seen BY SCOTT l “It is a human BY CHRISTOPHER MCDOUGALL ADAMS tendency to become l This book has many fans in the world in the what you attack.” l Written by the running community. It gives a great perspective on l “Everything he creator of Dilbert, how running is wired in the human brain and how talked about had a this book isn’t funny the body is so well suited to run. But beyond that, kind of logic to it, but and certainly not the it also offers an insight to how fulfilling a simple life so do many things easiest of reading. can be. It is one of those books that will make you that are nonsense.” It is a rather long get up from your couch and hit the trail. and meandering l “You don’t stop running because you get old, you get old because you stop running.”

MAY 2021 l ENTREPRENEUR l 81 → SNEAKERHEADS Ochoa (left) and Microsoft president Brad Smith, after the shoe signing.

TheT Shoes I Stood Back Up In by José Ochoa, president and CEO, Global Containers & Custom Packaging

hen someone enters my company’s El Paso, Texas, out to do it. I saw a LinkedIn ad for a binational business accelerator headquarters, they’re certain to see a bright-red pair of program sponsored by Microsoft, applied, and got accepted. I poured Nike Air Jordan 11 shoes. I have them displayed in my myself and my staff into the program and prepared for the final event: office. And if they look closely, they’ll notice the shoes are I was going to compete against 10 other big players at a pitch competi- W signed. “Is that Michael Jordan’s signature?” they’ll ask. tion, to be judged by a panel of corporate and government executives. The answer is no. Those shoes are signed by some- I’m a sneaker lover, and I knew only one pair of shoes would body even more inspirational to me, even though he doesn’t have a be good enough for this big day—because they’re the shoes I pair of shoes with his name. The signature is from Brad Smith, the always wore for major business events. I’d compete in my red president of Microsoft. Jordan 11s. The red symbolizes passion to me; it’s the flesh and Why? Because he signed those shoes just after my company blood that I put into my business. Jordan symbolizes relent- survived. lessness. He never retreated, which is how he became iconic. I I am a Mexican-American immigrant and a serial entrepreneur, wanted to channel those things when I pitched. and I co-run a packaging and logistics company called Global It worked. I came in first place. Microsoft gave us a $25,000 Containers & Custom Packaging. We grew steadily for a decade prize, and we generated great attention and new business. A few but then suffered a crisis in 2018: One of our largest clients filed weeks later, I met Microsoft president Brad Smith. We spoke for for bankruptcy, which caused us to lose $1 million in cash and a while; he congratulated me on my win and complimented me $1.7 million in business overnight. I was terrified. I felt like a big, on my shoes. I asked if he’d sign them, and he was happy to. incompetent loser. I guilted myself for not seeing it coming. Now every time I look at those shoes in my office, I am After several long nights without sleep, I came to a realization. reminded that we can overcome any difficult situation and any Money will come and go. So long as I have my health, experience, challenge. All we need is to believe in ourselves—and most work ethic, and family, I can make that money again—and so I set important, in our people.

WHAT INSPIRES YOU? Tell us about a story, person, object, or something else that pushes you forward, and we may include it in a future issue. And we may make you photograph or illustrate it, too. Email [email protected] with the subject line “WHAT INSPIRES ME.” PHOTOGRAPH COURTESY OF JOSÉ OCHOA

116 / ENTREPRENEUR.COM / April-May 2021 82 l ENTREPRENEUR l MAY 2021

entaprmay21 116 Backpage.indd 116 3/15/21 3:48 PM → SNEAKERHEADS Ochoa (left) and Microsoft president Brad Smith, after the shoe signing.

TheT Shoes I Stood Back Up In by José Ochoa, president and CEO, Global Containers & Custom Packaging

hen someone enters my company’s El Paso, Texas, out to do it. I saw a LinkedIn ad for a binational business accelerator headquarters, they’re certain to see a bright-red pair of program sponsored by Microsoft, applied, and got accepted. I poured Nike Air Jordan 11 shoes. I have them displayed in my myself and my staff into the program and prepared for the final event: office. And if they look closely, they’ll notice the shoes are I was going to compete against 10 other big players at a pitch competi- W signed. “Is that Michael Jordan’s signature?” they’ll ask. tion, to be judged by a panel of corporate and government executives. The answer is no. Those shoes are signed by some- I’m a sneaker lover, and I knew only one pair of shoes would body even more inspirational to me, even though he doesn’t have a be good enough for this big day—because they’re the shoes I pair of shoes with his name. The signature is from Brad Smith, the always wore for major business events. I’d compete in my red president of Microsoft. Jordan 11s. The red symbolizes passion to me; it’s the flesh and Why? Because he signed those shoes just after my company blood that I put into my business. Jordan symbolizes relent- survived. lessness. He never retreated, which is how he became iconic. I I am a Mexican-American immigrant and a serial entrepreneur, wanted to channel those things when I pitched. and I co-run a packaging and logistics company called Global It worked. I came in first place. Microsoft gave us a $25,000 Containers & Custom Packaging. We grew steadily for a decade prize, and we generated great attention and new business. A few but then suffered a crisis in 2018: One of our largest clients filed weeks later, I met Microsoft president Brad Smith. We spoke for for bankruptcy, which caused us to lose $1 million in cash and a while; he congratulated me on my win and complimented me $1.7 million in business overnight. I was terrified. I felt like a big, on my shoes. I asked if he’d sign them, and he was happy to. incompetent loser. I guilted myself for not seeing it coming. Now every time I look at those shoes in my office, I am After several long nights without sleep, I came to a realization. reminded that we can overcome any difficult situation and any Money will come and go. So long as I have my health, experience, challenge. All we need is to believe in ourselves—and most work ethic, and family, I can make that money again—and so I set important, in our people.

WHAT INSPIRES YOU? Tell us about a story, person, object, or something else that pushes you forward, and we may include it in a future issue. And we may make you photograph or illustrate it, too. Email [email protected] with the subject line “WHAT INSPIRES ME.” PHOTOGRAPH COURTESY OF JOSÉ OCHOA

116 / ENTREPRENEUR.COM / April-May 2021

entaprmay21 116 Backpage.indd 116 3/15/21 3:48 PM Postal Registration No: L-2, Faridabad/286/2018-20. APRIL 2021 l ` 200 l INDIA EDITION l RNI NO. HARENG/2011/39608-L-2/FBD/286/18-20 ENTREPRENEUR’S STARTUPS

SUBSCRIBER’S COPY NOT FOR RESALE

The

www.entrepreneur.com ` 200 | Vol 2 | No. 2 | April 2021 | Glossier DR LEENA S FOUNDER, THE NAIL ARTISTRY On How She Nailed It!

HOW STARTUPS CHANGED BUSINESS MODEL AMID PANDEMIC

· WILL STARTUPS IPOIPO BE A GAME-CHANGER IN 2021?

· RISE OF SOCIAL COMMERCE STARTUPS DURING COVID-19

84 l ENTREPRENEUR l MAY 2021